YER/USD Currency Pair Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
![Bollinger Bottleneck Buy Pattern 1](https://stockinvest.us/assets/img/legend/boll_tight.gif?v=25a8ebeec01b7b81c6d8306e42bbbe090ea218b2)
![Bollinger Bottleneck Buy Pattern 2](https://stockinvest.us/assets/img/legend/boll_tight2.gif?v=25a8ebeec01b7b81c6d8306e42bbbe090ea218b2)
![Bollinger Bottleneck Sell Pattern](https://stockinvest.us/assets/img/legend/boll_tight3.gif?v=25a8ebeec01b7b81c6d8306e42bbbe090ea218b2)
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
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.
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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