PKR/TWD Currency Pair Forecast

Green day on Friday for PKR/TWD
(Updated on May 17, 2024)

PKRTWD Signals & Forecast

PKR/TWD has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PKR/TWD 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 $0.116 and $0.116. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -1.32%. 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). The currency pair had a Golden Star Signal on Monday, December 11, 2023 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/TWD currency pair

PKR/TWD finds support from accumulated volume at $0.115 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 $0.0006 between high and low, or 0.519%. For the last week the currency pair has had daily average volatility of 0.470%.

Our recommended stop-loss: $0.111 (-4.26%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)

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

For the upcoming trading day on Monday, 20th we expect PKR/TWD to open at $0.116, and during the day (based on 14 day Average True Range), to move between $0.115 and $0.116, which gives a possible trading interval of +/-$0.0006 (+/-0.51%) up or down from last closing price. If PKR/TWD takes out the full calculated possible swing range there will be an estimated 1.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.115 (0.32%) than the resistance at $0.116 (0.33%), 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/TWD currency pair A Buy?

PKR/TWD 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.

Current score: -0.831 Hold/Accumulate Unchanged

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

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