RUB/KRW Currency Pair Forecast
RUB/KRW currency pair price ended at ₩15.57 on Thursday, after gaining 1.12%.
(Updated on Jun 13, 2024)
The RUB/KRW currency pair price gained 1.12% on the last trading day (Thursday, 13th Jun 2024), rising from ₩15.40 to ₩15.57. During the last trading day the currency pair fluctuated 6.99% from a day low at ₩14.96 to a day high of ₩16.01. The price has risen in 5 of the last 10 days and is up by 10129.13% over the past 2 weeks. Volume fell on the last day by -1 shares and in total, 1 thousand shares were bought and sold for approximately ₩19.95 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the currency pair is expected to fall -5.56% during the next 3 months and, with a 90% probability hold a price between ₩0.0106 and ₩14.71 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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RUBKRW Signals & Forecast
The RUB/KRW 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 ₩15.45 and ₩14.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 10,129.13%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for RUB/KRW currency pair
RUB/KRW finds support from accumulated volume at ₩15.49 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This currency pair may move very much during the day (volatility) and with periodic low trading volume this currency pair is considered to be "very high risk". During the last day, the currency pair moved ₩1.05 between high and low, or 6.99%. For the last week the currency pair has had daily average volatility of 2.61%.
Our recommended stop-loss: ₩15.03 (-3.48%) (This currency pair has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (RUBKRW) For The Upcoming Trading Day Of Friday 14th
For the upcoming trading day on Friday, 14th we expect RUB/KRW to open at ₩15.52, and during the day (based on 14 day Average True Range), to move between ₩14.27 and ₩16.88, which gives a possible trading interval of +/-₩1.31 (+/-8.39%) up or down from last closing price. If RUB/KRW takes out the full calculated possible swing range there will be an estimated 16.79% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₩15.49, some ₩0.0796 (0.51%) from the current price of ₩15.57, our system finds the risk reward attractive.
Is RUB/KRW currency pair A Buy?
Several short-term signals are positive, despite the currency pair being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for currency pair to perform well in the short-term.
Current score: 2.752 Buy Candidate Unchanged
Predicted Opening Price for RUB/KRW of Friday, June 14, 2024
| Fair opening price June 14, 2024 | Current price |
|---|---|
| ₩15.52 ( 0.382%) | ₩15.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RUBKRW
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.56 | 6.33% |
| R2 | 16.16 | 3.77% |
| R1 | 15.91 | 2.18% |
| Price | 15.57 | |
| S1 | 15.12 | -2.95% |
| S2 | 14.87 | -4.53% |
| S3 | 14.47 | -7.10% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 15.57 | |
| S1 | 15.49 | -0.511% |
| S2 | 15.47 | -0.652% |
| S3 | 15.45 | -0.798% |
FAQ
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