UYU/EUR Currency Pair Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Wednesday for UYU/EUR currency pair after gaining 0.292%
(Updated on May 22, 2024)
The UYU/EUR currency pair price gained 0.292% on the last trading day (Wednesday, 22nd May 2024), rising from 0.0240€ to 0.0241€. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the currency pair fluctuated 1.94% from a day low at 0.0237€ to a day high of 0.0241€. The price has fallen in 6 of the last 10 days and is down by -0.17% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 more shares were traded than the day before. In total, 51 shares were bought and sold for approximately 1.23€ .
The currency pair lies in the lower part of a narrow and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at 0.0240€ is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the currency pair is expected to rise 2.55% during the next 3 months and, with a 90% probability hold a price between 0.0246€ and 0.0258€ at the end of this 3-month period.
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UYUEUR Signals & Forecast
There are mixed signals in the currency pair today. The UYU/EUR currency pair holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the currency pair giving a more negative forecast for the stock. On further gains, the currency pair will meet resistance from the long-term Moving Average at 0.0241€. On a fall, the currency pair will find some support from the short-term average at 0.0239€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -1.68%. 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). UYU/EUR has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. 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.
Golden Star
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.
Golden Star 12 Months
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 0.0240€ 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 with good liquidity the risk is considered very low in this stock. During the last day, the currency pair moved 0.0005€ between high and low, or 1.94%. For the last week the currency pair has had daily average volatility of 1.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UYUEUR) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect UYU/EUR to open at 0.0240€, and during the day (based on 14 day Average True Range), to move between 0.0236€ and 0.0245€, which gives a possible trading interval of +/-0.0004€ (+/-1.70%) up or down from last closing price. If UYU/EUR takes out the full calculated possible swing range there will be an estimated 3.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 0.0240€ (0.21%) than the resistance at 0.0241€ (0.37%), 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 we believe that 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: -1.021 Sell Candidate Unchanged
Predicted Opening Price for UYU/EUR of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| 0.0240€ ( 0.416%) | 0.0241€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UYUEUR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0244 | 1.50 % | |
| R2 | 0.0242 | 0.766 % | ||
| R1 | 0.0241 | 0.315 % | ||
| Current price: | 0.0241 | |||
| Support | S1 | 0.0238 | -1.15 % | |
| S2 | 0.0237 | -1.60 % | ||
| S3 | 0.0235 | -2.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0244 | 1.33 % | |
| R2 | 0.0242 | 0.561 % | ||
| R1 | 0.0241 | 0.374 % | ||
| Current price | 0.0241 | |||
| Support | S1 | 0.0240 | -0.208% | |
| S2 | 0.0238 | -1.14% | ||
| S3 | 0.0237 | -1.37% |
FAQ
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