XPF/GBP Currency Pair Forecast
XPF/GBP currency pair upgraded to Buy Candidate.
(Updated on May 16, 2024)
The XPF/GBP currency pair price gained 0.112% on the last trading day (Thursday, 16th May 2024), rising from £0.0071 to £0.0071. During the last trading day the currency pair fluctuated 0.437% from a day low at £0.0071 to a day high of £0.0072. The price has been going up and down for this period, and there has been a 0.16% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately £10.08 .
The currency pair lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £0.0072 will firstly indicate a stronger rate of rising. Given the current short-term trend, the currency pair is expected to rise 3.86% during the next 3 months and, with a 90% probability hold a price between £0.0069 and £0.0075 at the end of this 3-month period.
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XPFGBP Signals & Forecast
The XPF/GBP currency pair holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the currency pair giving a positive forecast for the stock. On further gains, the currency pair will meet resistance from the short-term Moving Average at approximately £0.0071. On a fall, the currency pair will find some support from the long-term average at approximately £0.0071. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. XPF/GBP 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. 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 Wednesday, May 08, 2024, and so far it has fallen -0.616%. 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). The currency pair had a Golden Star Signal on Friday, April 05, 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.
Golden Star 12 Months
The currency pair had a Golden Star Signal on Friday, April 05, 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 XPF/GBP currency pair
XPF/GBP finds support from accumulated volume at £0.0071 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 £0.00003110 between high and low, or 0.437%. For the last week the currency pair has had daily average volatility of 0.557%.
Our recommended stop-loss: £0.0066 (-7.23%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (XPFGBP) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect XPF/GBP to open at £0.0071, and during the day (based on 14 day Average True Range), to move between £0.0071 and £0.0072, which gives a possible trading interval of +/-£0.00005099 (+/-0.71%) up or down from last closing price. If XPF/GBP takes out the full calculated possible swing range there will be an estimated 1.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.0071 (0.05%) than the resistance at £0.0072 (0.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is XPF/GBP currency pair A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for XPF/GBP currency pair to perform well in the short-term. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.810 Buy Candidate Upgraded
Predicted Opening Price for XPF/GBP of Friday, May 17, 2024
Fair opening price May 17, 2024 | Current price |
---|---|
£0.0071 ( 0.0186%) | £0.0071 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XPFGBP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0072 | 0.417 % | |
R2 | 0.0072 | 0.251 % | ||
R1 | 0.0071 | 0.148 % | ||
Current price: | 0.0071 | |||
Support | S1 | 0.0071 | -0.185 % | |
S2 | 0.0071 | -0.288 % | ||
S3 | 0.0071 | -0.454 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0072 | 0.311 % | |
R2 | 0.0072 | 0.228 % | ||
R1 | 0.0072 | 0.219 % | ||
Current price | 0.0071 | |||
Support | S1 | 0.0071 | -0.0511% | |
S2 | 0.0071 | -0.109% | ||
S3 | 0.0064 | -10.92% |
FAQ
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