TWD/DKK Currency Pair Forecast
Red day on Friday for TWD/DKK
(Updated on May 17, 2024)
The TWD/DKK currency pair price fell by -0.181% on the last day (Friday, 17th May 2024) from kr0.213 to kr0.213. During the last trading day the currency pair fluctuated 4.81% from a day low at kr0.204 to a day high of kr0.214. The price has fallen in 7 of the last 10 days and is down by -0.52% for this period. Volume fell on the last day along with the currency pair, which is actually a good sign as volume should follow the currency pair. On the last day, the trading volume fell by -2 thousand shares and in total, 20 thousand shares were bought and sold for approximately kr4.20 thousand.
The currency pair lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the currency pair is expected to fall -2.31% during the next 3 months and, with a 90% probability hold a price between kr0.206 and kr0.210 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TWDDKK 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 TWD/DKK 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 kr0.213 and kr0.214. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -1.77%. Further fall is indicated until a new bottom pivot has been found. 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.
A sell signal from a double top formation was found on Friday, April 12, 2024 and based on theory for this formation the price should fall by -0.80% to kr0.211 within 9 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for TWD/DKK currency pair
There is no support from accumulated volume below today's level and given the right condition the currency pair may perform very badly in the next couple of days.
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 kr0.0098 between high and low, or 4.81%. For the last week the currency pair has had daily average volatility of 1.54%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TWDDKK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect TWD/DKK to open at kr0.210, and during the day (based on 14 day Average True Range), to move between kr0.211 and kr0.215, which gives a possible trading interval of +/-kr0.0021 (+/-1.01%) up or down from last closing price. If TWD/DKK takes out the full calculated possible swing range there will be an estimated 2.02% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ kr0.213, some kr0.0004 (0.18%) from the current price of kr0.213, our system finds the risk reward not very attractive.
Is TWD/DKK currency pair A Buy?
TWD/DKK 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: -2.887 Sell Candidate Unchanged
Predicted Opening Price for TWD/DKK of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| kr0.210 ( 1.25%) | kr0.213 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TWDDKK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.220 | 3.36 % | |
| R2 | 0.216 | 1.60 % | ||
| R1 | 0.214 | 0.507 % | ||
| Current price: | 0.213 | |||
| Support | S1 | 0.207 | -3.02 % | |
| S2 | 0.204 | -4.11 % | ||
| S3 | 0.201 | -5.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.216 | 1.50 % | |
| R2 | 0.215 | 0.96 % | ||
| R1 | 0.213 | 0.184 % | ||
| Current price | 0.213 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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