XAG/AUD Currency Pair Forecast
Red day on Tuesday for XAG/AUD currency pair after losing 2.49%
(Updated on Jun 25, 2024)
The XAG/AUD currency pair price fell by -2.49% on the last day (Tuesday, 25th Jun 2024) from A$44.54 to A$43.44. During the last trading day the currency pair fluctuated 2.61% from a day low at A$43.43 to a day high of A$44.56. The price has been going up and down for this period, and there has been a -2% loss for the last 2 weeks. Volume has increased on the last day by 121 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 159 thousand shares were bought and sold for approximately A$6.89 million.
The currency pair lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at A$43.26 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 13.22% during the next 3 months and, with a 90% probability hold a price between A$48.98 and A$56.66 at the end of this 3-month period.
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XAGAUD Signals & Forecast
There are few to no technical positive signals at the moment. The XAG/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$44.55 and A$45.21. 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 29, 2024, and so far it has fallen -10.23%. 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 rose on falling prices yesterday. This may be an early warning and the currency pair should be followed more closely.
Support, Risk & Stop-loss for XAG/AUD currency pair
XAG/AUD finds support from accumulated volume at A$43.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This currency pair has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the currency pair moved A$1.13 between high and low, or 2.61%. For the last week, the currency pair has had daily average volatility of 3.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XAGAUD) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect XAG/AUD to open at A$43.81, and during the day (based on 14 day Average True Range), to move between A$42.27 and A$44.60, which gives a possible trading interval of +/-A$1.16 (+/-2.67%) up or down from last closing price. If XAG/AUD takes out the full calculated possible swing range there will be an estimated 5.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at A$43.64 (0.47%) than the support at A$43.14 (0.68%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is XAG/AUD currency pair A Buy?
The XAG/AUD currency pair holds several negative signals and despite the positive trend, we believe XAG/AUD will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this currency pair.
Current score: -1.140 Sell Candidate Unchanged
Predicted Opening Price for XAG/AUD of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| A$43.81 ( 0.86%) | A$43.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XAGAUD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.94 | 3.47% |
| R2 | 44.51 | 2.47% |
| R1 | 44.24 | 1.86% |
| Price | 43.44 | |
| S1 | 43.38 | -0.136% |
| S2 | 43.11 | -0.752% |
| S3 | 42.68 | -1.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 44.68 | 2.86% |
| R2 | 44.38 | 2.18% |
| R1 | 43.64 | 0.474% |
| Price | 43.44 | |
| S1 | 43.14 | -0.680% |
| S2 | 42.17 | -2.91% |
| S3 | 42.10 | -3.09% |
FAQ
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