PKR/DKK Currency Pair Forecast

Evaluation of PKR/DKK currency pair downgraded after the last trading session.
(Updated on Jun 17, 2024)

PKRDKK Signals & Forecast

The PKR/DKK currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr0.0249 and kr0.0248. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The currency pair had a Golden Star Signal on Friday, June 07, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.

Support, Risk & Stop-loss for PKR/DKK currency pair

PKR/DKK finds support from accumulated volume at kr0.0250 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the currency pair tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the currency pair During the last day, the currency pair moved kr0 between high and low, or 0%. For the last week the currency pair has had daily average volatility of 0.86%

Our recommended stop-loss: kr0.0241 (-3.70%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (PKRDKK) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect PKR/DKK to open at kr0.0250, and during the day (based on 14 day Average True Range), to move between kr0.0248 and kr0.0252, which gives a possible trading interval of +/-kr0.0002 (+/-0.76%) up or down from last closing price. If PKR/DKK takes out the full calculated possible swing range there will be an estimated 1.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr0.0250 (0.06%) than the resistance at kr0.0252 (0.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is PKR/DKK currency pair A Buy?

PKR/DKK holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this currency pair since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.628 Hold/Accumulate Downgraded

Predicted Opening Price for PKR/DKK of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.