SAR/KWD Currency Pair Forecast

SAR/KWD currency pair price ended at $0.0816 on Friday, after gaining 0.0250%.
(Updated on Jun 14, 2024)

SARKWD Signals & Forecast

There are few to no technical positive signals at the moment. The SAR/KWD 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 $0.0816 and $0.0817. 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 13, 2024, and so far it has fallen -0.423%. Further fall is indicated until a new bottom pivot has been found. 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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Monday, May 13, 2024 and based on theory for this formation the price should fall by -0.410% to $0.0813 within 11 trading days since signal was issued (Monday, June 17, 2024).

Support, Risk & Stop-loss for SAR/KWD currency pair

SAR/KWD finds support from accumulated volume at $0.0816 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 $0.0002 between high and low, or 0.293%. For the last week the currency pair has had daily average volatility of 0.453%

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

Trading Expectations (SARKWD) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect SAR/KWD to open at $0.0816, and during the day (based on 14 day Average True Range), to move between $0.0813 and $0.0819, which gives a possible trading interval of +/-$0.0003 (+/-0.34%) up or down from last closing price. If SAR/KWD takes out the full calculated possible swing range there will be an estimated 0.67% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0816 (0.00%) than the resistance at $0.0819 (0.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is SAR/KWD currency pair A Buy?

SAR/KWD 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: -2.307 Sell Candidate Unchanged

Predicted Opening Price for SAR/KWD of Monday, June 17, 2024

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