UAH/DKK Currency Pair Forecast

Green day on Thursday for UAH/DKK
(Updated on May 16, 2024)

UAHDKK Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 0.164%. 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 UAH/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 kr0.174 and kr0.175. 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 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.

Support, Risk & Stop-loss for UAH/DKK currency pair

UAH/DKK finds support from accumulated volume at kr0.173 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 kr0.0003 between high and low, or 0.171%. For the last week the currency pair has had daily average volatility of 0.193%

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

Trading Expectations (UAHDKK) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect UAH/DKK to open at kr0.173, and during the day (based on 14 day Average True Range), to move between kr0.173 and kr0.174, which gives a possible trading interval of +/-kr0.0004 (+/-0.21%) up or down from last closing price. If UAH/DKK takes out the full calculated possible swing range there will be an estimated 0.43% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr0.173 (0.11%) than the resistance at kr0.173 (0.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is UAH/DKK currency pair A Buy?

UAH/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: -1.570 Sell Candidate Unchanged

Predicted Opening Price for UAH/DKK of Friday, May 17, 2024

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