ZAR/RON Currency Pair Forecast

Stronger technical forecast for ZAR/RON currency pair price after Friday trading.
(Updated on Jun 28, 2024)

ZARRON Signals & Forecast

The ZAR/RON currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 0.255 lei and 0.250 lei. A breakdown below any of these levels will issue sell signals. 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 Thursday, June 20, 2024, and so far it has fallen -1.31%. Further fall is indicated until a new bottom pivot has been found. 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 not be. 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 07, 2024 in the long-term chart.

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/RON currency pair

ZAR/RON finds support from accumulated volume at 0.255 lei 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 controlled movements and therefore the general risk is considered 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 0.0068 lei between high and low, or 2.73%. For the last week the currency pair has had daily average volatility of 2.08%.

Our recommended stop-loss: 0.247 lei (-3.34%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (ZARRON) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect ZAR/RON to open at 0.254 lei, and during the day (based on 14 day Average True Range), to move between 0.251 lei and 0.259 lei, which gives a possible trading interval of +/-0.0039 lei (+/-1.52%) up or down from last closing price. If ZAR/RON takes out the full calculated possible swing range there will be an estimated 3.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 0.255 lei (0.13%) than the resistance at 0.256 lei (0.51%), 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/RON currency pair A Buy?

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

Current score: 3.406 Buy Candidate Upgraded

Predicted Opening Price for ZAR/RON of Monday, July 1, 2024

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