RWF/GBP Currency Pair Forecast

Green day on Friday for RWF/GBP
(Updated on May 31, 2024)

RWFGBP Signals & Forecast

There are mixed signals in the currency pair today. The RWF/GBP currency pair holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the currency pair giving a more negative forecast for the stock. On further gains, the currency pair will meet resistance from the long-term Moving Average at £0.0006. On a fall, the currency pair will find some support from the short-term average at £0.0006. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 1.40%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for RWF/GBP currency pair

RWF/GBP finds support from accumulated volume at £0.0006 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 between high and low, or 0%. For the last week the currency pair has had daily average volatility of 0.159%

Our recommended stop-loss: £0.0006 (-5.48%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)

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

For the upcoming trading day on Monday, 3rd we expect RWF/GBP to open at £0.0006, and during the day (based on 14 day Average True Range), to move between £0.0006 and £0.0006, which gives a possible trading interval of +/-£0.00000235 (+/-0.39%) up or down from last closing price. If RWF/GBP takes out the full calculated possible swing range there will be an estimated 0.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £0.0006 (0.02%) than the resistance at £0.0006 (0.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is RWF/GBP currency pair A Buy?

RWF/GBP holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.639 Hold/Accumulate Unchanged

Predicted Opening Price for RWF/GBP of Monday, June 3, 2024

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