ZAR/CZK Currency Pair Forecast

Red day on Tuesday for ZAR/CZK
(Updated on Jun 25, 2024)

ZARCZK Signals & Forecast

The ZAR/CZK 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 1.27 Kč. On a fall, the currency pair will find some support from the long-term average at approximately 1.24 Kč. 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. 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 Monday, June 24, 2024, and so far it has fallen -2.61%. Further fall is indicated until a new bottom pivot has been found. 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 currency pair had a Golden Star Signal on Friday, May 17, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, June 12, 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 1.25 Kč and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This currency pair is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the currency pair moved 0.0220 Kč (1.74%) between high and low. For the last week, the currency pair has had daily average volatility of 1.95%.

Our recommended stop-loss: 1.22 Kč (-3.07%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (ZARCZK) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect ZAR/CZK to open at 1.27 Kč, and during the day (based on 14 day Average True Range), to move between 1.24 Kč and 1.28 Kč, which gives a possible trading interval of +/-0.0184 Kč (+/-1.46%) up or down from last closing price. If ZAR/CZK takes out the full calculated possible swing range there will be an estimated 2.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 1.25 Kč (0.59%) than the resistance at 1.28 Kč (1.61%), 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 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: -0.924 Hold/Accumulate Unchanged

Predicted Opening Price for ZAR/CZK of Wednesday, June 26, 2024

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