CHF/HKD Currency Pair Forecast

Red day on Friday for CHF/HKD
(Updated on May 24, 2024)

CHFHKD Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 0.369%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CHF/HKD currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$8.56 and HK$8.59. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). CHF/HKD 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".

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

CHF/HKD finds support from accumulated volume at HK$8.53 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 HK$0.0277 between high and low, or 0.325%. For the last week the currency pair has had daily average volatility of 0.108%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CHFHKD) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect CHF/HKD to open at HK$8.54, and during the day (based on 14 day Average True Range), to move between -HK$111,645,474.85 and HK$111,645,491.93, which gives a possible trading interval of +/-HK$111,645,483.39 (+/-1 307 171 096.92%) up or down from last closing price. If CHF/HKD takes out the full calculated possible swing range there will be an estimated 2 614 342 193.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$8.53 (0.08%) than the resistance at HK$8.56 (0.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is CHF/HKD currency pair A Buy?

CHF/HKD holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this currency pair.

Current score: -2.704 Sell Candidate Unchanged

Predicted Opening Price for CHF/HKD of Tuesday, May 28, 2024

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