RUB/XAU Currency Pair Forecast
RUB/XAU currency pair downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The RUB/XAU currency pair price fell by -0.83% on the last day (Friday, 28th Jun 2024) from $0.00000505 to $0.00000501. During the last trading day the currency pair fluctuated 3.73% from a day low at $0.00000489 to a day high of $0.00000507. The price has risen in 7 of the last 10 days and is up by 4.75% over the past 2 weeks. Volume fell on the last day along with the currency pair, which is actually a good sign as volume should follow the currency pair. On the last day, the trading volume fell by -117 shares and in total, 1 thousand shares were bought and sold for approximately $0.0063 .
The currency pair lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.00000506 will firstly indicate a stronger rate of rising. Given the current short-term trend, the currency pair is expected to rise 5.49% during the next 3 months and, with a 90% probability hold a price between $0.00000261 and $0.00000534 at the end of this 3-month period.
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RUBXAU Signals & Forecast
The RUB/XAU 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 $0.00000493 and $0.00000473. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -0.83%. 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.
Support, Risk & Stop-loss for RUB/XAU currency pair
On the downside, the currency pair finds support just below today's level from accumulated volume at $0.00000451 and $0.00000449. There is a natural risk involved when a currency pair is testing a support level, since if this is broken, the currency pair then may fall to the next support level. In this case, RUB/XAU finds support just below today's level at $0.00000451. If this is broken, then the next support from accumulated volume will be at $0.00000449 and $0.00000449.
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 $0.00000018 between high and low, or 3.73%. For the last week the currency pair has had daily average volatility of 3.15%.
Our recommended stop-loss: $0.00000482 (-3.86%) (This currency pair has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (RUBXAU) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect RUB/XAU to open at $0.00000499, and during the day (based on 14 day Average True Range), to move between $0.00000477 and $0.00000526, which gives a possible trading interval of +/-$0.00000024 (+/-4.88%) up or down from last closing price. If RUB/XAU takes out the full calculated possible swing range there will be an estimated 9.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.00000503 (0.33%) than the support at $0.00000451 (10.11%), 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 RUB/XAU 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 RUB/XAU currency pair to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this currency pair since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.839 Buy Candidate Downgraded
Predicted Opening Price for RUB/XAU of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.00000499 ( 0.421%) | $0.00000501 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RUBXAU
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.00000517 | 3.22% |
| R2 | 0.00000510 | 1.83% |
| R1 | 0.00000506 | 0.97% |
| Price | 0.00000501 | |
| S1 | 0.00000492 | -1.81% |
| S2 | 0.00000488 | -2.67% |
| S3 | 0.00000481 | -4.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.00000505 | 0.84% |
| R1 | 0.00000503 | 0.334% |
| Price | 0.00000501 | |
| S1 | 0.00000451 | -10.11% |
| S2 | 0.00000449 | -10.42% |
| S3 | 0.00000449 | -10.43% |
FAQ
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