PLN/NZD Currency Pair Forecast

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

PLNNZD Signals & Forecast

There are mixed signals in the currency pair today. The PLN/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 $0.417 and $0.418. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this currency pair may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.88%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The currency pair had a Golden Star Signal on Friday, May 10, 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 PLN/NZD currency pair

PLN/NZD finds support from accumulated volume at $0.416 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 $0.0021 between high and low, or 0.508%. For the last week the currency pair has had daily average volatility of 0.718%

Our recommended stop-loss: $0.392 (-5.85%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 25 days ago.)

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

For the upcoming trading day on Monday, 20th we expect PLN/NZD to open at $0.417, and during the day (based on 14 day Average True Range), to move between $0.413 and $0.420, which gives a possible trading interval of +/-$0.0034 (+/-0.81%) up or down from last closing price. If PLN/NZD takes out the full calculated possible swing range there will be an estimated 1.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.416 (0.15%) than the resistance at $0.418 (0.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is PLN/NZD currency pair A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for PLN/NZD currency pair to perform well in the short-term. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.093 Buy Candidate Upgraded

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

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