PKR/NZD Currency Pair Forecast

PKR/NZD currency pair upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)

PKRNZD Signals & Forecast

There are few to no technical positive signals at the moment. The PKR/NZD currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.0059 and $0.0060. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -4.06%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). PKR/NZD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The currency pair had a Golden Star Signal on Thursday, March 14, 2024 in the short-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/NZD currency pair

PKR/NZD finds support from accumulated volume at $0.0058 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 with good liquidity the risk is considered very low in this stock. During the last day, the currency pair moved $0.00003406 between high and low, or 0.582%. For the last week the currency pair has had daily average volatility of 0.627%.

Our recommended stop-loss: $0.0056 (-3.87%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 25 days ago.)

Trading Expectations (PKRNZD) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect PKR/NZD to open at $0.0059, and during the day (based on 14 day Average True Range), to move between $0.0058 and $0.0059, which gives a possible trading interval of +/-$0.00004081 (+/-0.70%) up or down from last closing price. If PKR/NZD takes out the full calculated possible swing range there will be an estimated 1.39% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0059 (0.57%) than the support at $0.0058 (0.57%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is PKR/NZD currency pair A Buy?

PKR/NZD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.067 Hold/Accumulate Upgraded

Predicted Opening Price for PKR/NZD of Monday, May 20, 2024

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