Aroon Indicator for GBPEUR shows an upward move is likely

FX_IDC:GBPEUR   British Pound / Euro
GBPEUR's Aroon Indicator triggered a bullish signal on February 02, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 258 similar instances where the Aroon Indicator showed a similar pattern. In 82 of the 258 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at 32%.

Price Prediction Chart
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on January 17, 2024. You may want to consider a long position or call options on GBPEUR as a result. In 31 of 118 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 26%.

Following a +0.26% 3-day Advance, the price is estimated to grow further. Considering data from situations where GBPEUR advanced for three days, in 48 of 260 cases, the price rose further within the following month. The odds of a continued upward trend are 18%.


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