ZAR/CZK Currency Pair Forecast

Red day on Friday for ZAR/CZK
(Updated on May 24, 2024)

ZARCZK Signals & Forecast

There are few to no technical positive signals at the moment. The ZAR/CZK currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at 1.24 Kč and 1.25 Kč. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -2.15%. 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). ZAR/CZK 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. The currency pair had a Golden Star Signal on Thursday, March 28, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, January 25, 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.

Support, Risk & Stop-loss for ZAR/CZK currency pair

ZAR/CZK finds support from accumulated volume at 1.23 Kč 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 0.0145 Kč between high and low, or 1.18%. For the last week the currency pair has had daily average volatility of 0.373%.

Our recommended stop-loss: 1.19 Kč (-3.39%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 24 days ago.)

Trading Expectations (ZARCZK) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect ZAR/CZK to open at 1.24 Kč, and during the day (based on 14 day Average True Range), to move between 1.22 Kč and 1.25 Kč, which gives a possible trading interval of +/-0.0119 Kč (+/-0.96%) up or down from last closing price. If ZAR/CZK takes out the full calculated possible swing range there will be an estimated 1.93% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 1.23 Kč (0.67%) than the resistance at 1.25 Kč (1.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is ZAR/CZK currency pair A Buy?

ZAR/CZK 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: -0.899 Hold/Accumulate Unchanged

Predicted Opening Price for ZAR/CZK of Tuesday, May 28, 2024

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