YER/USD Currency Pair Forecast
Red day on Tuesday for YER/USD
(Updated on Jun 25, 2024)
The YER/USD currency pair price fell by -0.379% on the last day (Tuesday, 25th Jun 2024) from $0.0040 to $0.0040. During the last trading day the currency pair fluctuated 0.0399% 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. Volume has increased on the last day by 4 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, 4 shares were bought and sold for approximately $0.0159 .
The currency pair has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $0.0040 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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YERUSD Signals & Forecast
There are few to no technical positive signals at the moment. The YER/USD currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0040 and $0.0040. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -0.379%. 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). YER/USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Monday, June 24, 2024 and based on theory for this formation the price should fall by -0.0800% to $0.0040 within 8 trading days since signal was issued (Friday, July 05, 2024).
Support, Risk & Stop-loss for YER/USD currency pair
There is no support from accumulated volume below today's level and given the right condition the currency pair may perform very badly in the next couple of days.
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 $0.00000159 between high and low, or 0.0399%. For the last week the currency pair has had daily average volatility of 0.0120%.
Our recommended stop-loss: $0.0038 (-5.19%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (YERUSD) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th 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 +/-$0.00000737 (+/-0.19%) 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.
With no support below and resistance from accumulated volume @ $0.0040, some $0.00000079 (0.02%) from the current price of $0.0040, our system finds the risk reward not very attractive.
Is YER/USD currency pair A Buy?
YER/USD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.0040 ( 0.0133%) | $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 | 0.0532% |
| R2 | 0.0040 | 0.0379% |
| R1 | 0.0040 | 0.0285% |
| Price | 0.0040 | |
| S1 | 0.0040 | -0.0019% |
| S2 | 0.0040 | -0.0113% |
| S3 | 0.0040 | -0.0266% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0040 | 0.0598% |
| R2 | 0.0040 | 0.0399% |
| R1 | 0.0040 | 0.0199% |
| Price | 0.0040 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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