TRY/AUD Currency Pair Forecast

TRY/AUD currency pair price down 0.405% on Friday
(Updated on May 17, 2024)

TRYAUD Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 0.0232%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The TRY/AUD 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 A$0.0467 and A$0.0472. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.

Buy

Special Signal Notification

Double Bottom Formation

Support, Risk & Stop-loss for TRY/AUD currency pair

TRY/AUD finds support from accumulated volume at A$0.0464 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 A$0.0003 between high and low, or 0.706%. For the last week the currency pair has had daily average volatility of 0.94%

Our recommended stop-loss: A$0.0435 (-6.14%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (TRYAUD) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect TRY/AUD to open at A$0.0464, and during the day (based on 14 day Average True Range), to move between A$0.0457 and A$0.0470, which gives a possible trading interval of +/-A$0.0006 (+/-1.37%) up or down from last closing price. If TRY/AUD takes out the full calculated possible swing range there will be an estimated 2.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at A$0.0464 (0.02%) than the resistance at A$0.0479 (3.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is TRY/AUD currency pair A Buy?

TRY/AUD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for TRY/AUD of Monday, May 20, 2024

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