UYU/EUR Currency Pair Forecast

Weaker technical forecast for UYU/EUR as currency pair downgraded to Hold/Accumulate.
(Updated on May 10, 2024)

UYUEUR Signals & Forecast

There are few to no technical positive signals at the moment. The UYU/EUR 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 0.0242€ and 0.0243€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -1.48%. Further fall is indicated until a new bottom pivot has been found. 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. The currency pair had a Golden Star Signal on Friday, March 15, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, February 19, 2024.

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 UYU/EUR currency pair

UYU/EUR finds support from accumulated volume at 0.0241€ 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 0.0004€ between high and low, or 1.60%. For the last week the currency pair has had daily average volatility of 1.85%

Our recommended stop-loss: 0.0230€ (-4.50%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (UYUEUR) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect UYU/EUR to open at 0.0240€, and during the day (based on 14 day Average True Range), to move between 0.0237€ and 0.0245€, which gives a possible trading interval of +/-0.0004€ (+/-1.63%) up or down from last closing price. If UYU/EUR takes out the full calculated possible swing range there will be an estimated 3.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 0.0241€ (0.11%) than the resistance at 0.0241€ (0.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is UYU/EUR currency pair A Buy?

UYU/EUR 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. 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: 0.606 Hold/Accumulate Downgraded

Predicted Opening Price for UYU/EUR of Monday, May 13, 2024

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