SAR/KWD Currency Pair Forecast
SAR/KWD currency pair price ended at $0.0816 on Tuesday, after losing 0.0326%.
(Updated on Jun 25, 2024)
The SAR/KWD currency pair price fell by -0.0326% on the last day (Tuesday, 25th Jun 2024) from $0.0816 to $0.0816. During the last trading day the currency pair fluctuated 0.116% from a day low at $0.0816 to a day high of $0.0817. The price has fallen in 6 of the last 10 days and is down by -0.1% for this period. Volume has increased on the last day by 62 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 64 shares were bought and sold for approximately $5.22 .
The currency pair is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect SAR/KWD currency pair with a 90% probability to be traded between $0.0801 and $0.0819 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and currency pairs seldom manage to go directly from the bottom of a trend up to the top. Currency pairs turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SARKWD 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 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 -0.383%. Further fall is indicated until a new bottom pivot has been found. SAR/KWD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
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 -0.450% to $0.0813 within 11 trading days since signal was issued (Wednesday, May 29, 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 with good liquidity the risk is considered very low in this stock. During the last day, the currency pair moved $0.00009473 between high and low, or 0.116%. For the last week the currency pair has had daily average volatility of 0.506%.
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 Wednesday 26th
For the upcoming trading day on Wednesday, 26th 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 (+/-0.37%) up or down from last closing price. If SAR/KWD takes out the full calculated possible swing range there will be an estimated 0.74% 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 (0.04%) than the resistance at $0.0819 (0.30%), 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: -3.016 Sell Candidate Unchanged
Predicted Opening Price for SAR/KWD of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.0816 ( 0.0030%) | $0.0816 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SARKWD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0817 | 0.119% |
| R2 | 0.0817 | 0.0747% |
| R1 | 0.0817 | 0.0474% |
| Price | 0.0816 | |
| S1 | 0.0816 | -0.0413% |
| S2 | 0.0816 | -0.0687% |
| S3 | 0.0815 | -0.113% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0821 | 0.530% |
| R2 | 0.0820 | 0.503% |
| R1 | 0.0819 | 0.299% |
| Price | 0.0816 | |
| S1 | 0.0816 | -0.0396% |
| S2 | 0.0816 | -0.0416% |
| S3 | 0.0816 | -0.0645% |
FAQ
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