PYG/EUR Currency Pair Forecast

Red day on Friday for PYG/EUR currency pair after losing 0.0981%
(Updated on May 31, 2024)

PYGEUR Signals & Forecast

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. The PYG/EUR 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 0.0001€ and 0.0001€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -0.82%. Further fall is indicated until a new bottom pivot has been found. 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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Monday, April 01, 2024 with a target of 0.0001€. Despite whether the objective of the signal formation has been reached the currency pair may continue to fall.

Support, Risk & Stop-loss for PYG/EUR currency pair

There is no support from accumulated volume below today's level and given the right condition the currency pair may perform very badly in the next couple of days.

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 0.00000274€ between high and low, or 2.25%. For the last week the currency pair has had daily average volatility of 2.06%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PYGEUR) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect PYG/EUR to open at 0.0001€, and during the day (based on 14 day Average True Range), to move between 0.0001€ and 0.0001€, which gives a possible trading interval of +/-0.00000250€ (+/-2.05%) up or down from last closing price. If PYG/EUR takes out the full calculated possible swing range there will be an estimated 4.10% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ 0.0001€, some 0.00000123€ (1.01%) from the current price of 0.0001€, our system finds the risk reward not very attractive.

Is PYG/EUR currency pair A Buy?

PYG/EUR holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this currency pair.

Current score: -2.076 Sell Candidate Unchanged

Predicted Opening Price for PYG/EUR of Monday, June 3, 2024

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