ZAR/CZK Currency Pair Forecast

Stronger technical forecast for ZAR/CZK currency pair price after Friday trading.
(Updated on Jun 14, 2024)

ZARCZK Signals & Forecast

The ZAR/CZK currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the currency pair has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at 1.22 Kč and 1.24 Kč. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 4.21%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. 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 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 1.24 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 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 0.0274 Kč between high and low, or 2.22%. For the last week the currency pair has had daily average volatility of 1.31%

Our recommended stop-loss: 1.19 Kč (-4.31%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)

Trading Expectations (ZARCZK) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect ZAR/CZK to open at 1.25 Kč, and during the day (based on 14 day Average True Range), to move between 1.23 Kč and 1.26 Kč, which gives a possible trading interval of +/-0.0145 Kč (+/-1.17%) up or down from last closing price. If ZAR/CZK takes out the full calculated possible swing range there will be an estimated 2.33% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 1.25 Kč (0.47%) than the support at 1.24 Kč (0.52%), 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 ZAR/CZK currency pair A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for ZAR/CZK currency pair to perform well in the short-term period. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.147 Buy Candidate Upgraded

Predicted Opening Price for ZAR/CZK of Monday, June 17, 2024

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