YER/USD Currency Pair Forecast
Red day on Monday for YER/USD
(Updated on Jun 17, 2024)
No changes to the price of YER/USD currency pair on the last trading day (Monday, 17th Jun 2024). During the last trading day the currency pair fluctuated 0% from a day low at $0.0040 to a day high of $0.0040. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The currency pairis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $0.0040 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect YER/USD currency pair with a 90% probability to be traded between $0.0040 and $0.0040 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and currency pairs seldom manage to go directly from the bottom of a trend up to the top. Currency pairs turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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YERUSD Signals & Forecast
The YER/USD currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.0040 and $0.0040. 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). 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, June 12, 2024, and so far it has fallen -0.0749%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The currency pair had a Golden Star Signal on Thursday, May 23, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 30, 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 Thursday, May 23, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 30, 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 Thursday, May 23, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 30, 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.
A sell signal from a double top formation was found on Wednesday, June 12, 2024 and based on theory for this formation the price should fall by -0.91% to $0.0040 within 2 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for YER/USD currency pair
YER/USD finds support from accumulated volume at $0.0040 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 between high and low, or 0%. For the last week the currency pair has had daily average volatility of 0.0150%
Our recommended stop-loss: $0.0038 (-3.88%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (YERUSD) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect YER/USD to open at $0.0040, and during the day (based on 14 day Average True Range), to move between $0.0040 and $0.0040, which gives a possible trading interval of +/-$0.00000736 (+/-0.18%) up or down from last closing price. If YER/USD takes out the full calculated possible swing range there will be an estimated 0.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0040 (0.01%) than the support at $0.0040 (0.34%), 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 YER/USD currency pair A Buy?
YER/USD 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for YER/USD of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| $0.0040 ( 0%) | $0.0040 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YERUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0040 | - |
| R2 | 0.0040 | - |
| R1 | 0.0040 | - |
| Price | 0.0040 | |
| S1 | 0.0040 | - |
| S2 | 0.0040 | - |
| S3 | 0.0040 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0040 | 0.0250% |
| R2 | 0.0040 | 0.0120% |
| R1 | 0.0040 | 0.0080% |
| Price | 0.0040 | |
| S1 | 0.0040 | -0.339% |
| S2 | 0.0040 | -0.359% |
| S3 | 0.0040 | -0.379% |
FAQ
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