XAU/RUB Currency Pair Forecast

Stronger technical forecast for XAU/RUB currency pair price after Friday trading.
(Updated on May 17, 2024)

XAURUB Signals & Forecast

The XAU/RUB currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the currency pair has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at 216,510.03₽ and 216,557.45₽. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The currency pair should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -2.18%. Further fall is indicated until a new bottom pivot has been found. The currency pair had a Golden Star Signal on Tuesday, January 30, 2024 in the long-term chart.

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 XAU/RUB currency pair

On the downside, the currency pair finds support just below today's level from accumulated volume at 188,361.20₽ and 186,689.90₽. There is a natural risk involved when a currency pair is testing a support level, since if this is broken, the currency pair then may fall to the next support level. In this case, XAU/RUB finds support just below today's level at 188,361.20₽. If this is broken, then the next support from accumulated volume will be at 186,689.90₽ and 186,361.40₽.

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 4,270.90₽ between high and low, or 1.98%. For the last week the currency pair has had daily average volatility of 1.64%.

Our recommended stop-loss: 212,021.26₽ (-3.50%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (XAURUB) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect XAU/RUB to open at 218,524.50₽, and during the day (based on 14 day Average True Range), to move between 215,582.29₽ and 223,856.11₽, which gives a possible trading interval of +/-4,136.91₽ (+/-1.88%) up or down from last closing price. If XAU/RUB takes out the full calculated possible swing range there will be an estimated 3.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 221,539.90₽ (0.83%) than the support at 188,361.20₽ (14.27%), 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 XAU/RUB currency pair A Buy?

XAU/RUB holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.889 Hold/Accumulate Upgraded

Predicted Opening Price for XAU/RUB of Monday, May 20, 2024

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