CAD/CHF Currency Pair Forecast

CAD/CHF currency pair upgraded to Hold/Accumulate.
(Updated on May 31, 2024)

CADCHF Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). CAD/CHF has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CAD/CHF currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 0.667 Fr and 0.665 Fr. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -1.07%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for CAD/CHF currency pair

CAD/CHF finds support from accumulated volume at 0.662 Fr 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 0.0063 Fr between high and low, or 0.96%. For the last week the currency pair has had daily average volatility of 0.314%.

Our recommended stop-loss: 0.636 Fr (-4.06%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (CADCHF) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect CAD/CHF to open at 0.662 Fr, and during the day (based on 14 day Average True Range), to move between 0.660 Fr and 0.666 Fr, which gives a possible trading interval of +/-0.0029 Fr (+/-0.44%) up or down from last closing price. If CAD/CHF takes out the full calculated possible swing range there will be an estimated 0.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 0.662 Fr (0.03%) than the resistance at 0.663 Fr (0.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is CAD/CHF currency pair A Buy?

CAD/CHF 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. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.508 Hold/Accumulate Upgraded

Predicted Opening Price for CAD/CHF of Monday, June 3, 2024

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