SOS/EUR Currency Pair Forecast

SOS/EUR currency pair downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 14, 2024)

SOSEUR Signals & Forecast

The SOS/EUR 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 0.0016€ and 0.0016€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 1.81%. 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. The currency pair had a Golden Star Signal on Thursday, March 21, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.

Support, Risk & Stop-loss for SOS/EUR currency pair

SOS/EUR finds support from accumulated volume at 0.0016€ 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 0.0001€ between high and low, or 7.30%. For the last week the currency pair has had daily average volatility of 7.42%

Our recommended stop-loss: 0.0016€ (-4.15%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 45 days ago.)

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

For the upcoming trading day on Monday, 17th we expect SOS/EUR to open at 0.0017€, and during the day (based on 14 day Average True Range), to move between 0.0015€ and 0.0018€, which gives a possible trading interval of +/-0.0001€ (+/-6.98%) up or down from last closing price. If SOS/EUR takes out the full calculated possible swing range there will be an estimated 13.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 0.0016€ (0.01%) than the support at 0.0016€ (0.31%), 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 SOS/EUR currency pair A Buy?

SOS/EUR 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. 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 Buy to a Hold/Accumulate candidate.

Current score: 0.507 Hold/Accumulate Downgraded

Predicted Opening Price for SOS/EUR of Monday, June 17, 2024

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