CHF/HKD Currency Pair Forecast

CHF/HKD currency pair price ended at HK$8.73 on Tuesday, after losing 0.0816%.
(Updated on Jun 25, 2024)

CHFHKD Signals & Forecast

The CHF/HKD currency pair holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the currency pair giving a positive forecast for the stock. On further gains, the currency pair will meet resistance from the short-term Moving Average at approximately HK$8.76. On a fall, the currency pair will find some support from the long-term average at approximately HK$8.67. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, June 18, 2024, and so far it has fallen -1.15%. Further fall is indicated until a new bottom pivot has been found. 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". The currency pair had a Golden Star Signal on Wednesday, May 29, 2024 in the short-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 CHF/HKD currency pair

CHF/HKD finds support from accumulated volume at HK$8.73 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$0.0367 between high and low, or 0.421%. For the last week the currency pair has had daily average volatility of 0.581%.

Our recommended stop-loss: HK$8.41 (-3.64%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 41 days ago.)

Trading Expectations (CHFHKD) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect CHF/HKD to open at HK$8.74, and during the day (based on 14 day Average True Range), to move between -HK$20,304,544.67 and HK$20,304,562.13, which gives a possible trading interval of +/-HK$20,304,553.40 (+/-232 596 980.35%) up or down from last closing price. If CHF/HKD takes out the full calculated possible swing range there will be an estimated 465 193 960.69% 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$8.73 (0.02%) than the resistance at HK$8.76 (0.33%), 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 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.

Current score: 0.675 Hold/Accumulate Unchanged

Predicted Opening Price for CHF/HKD of Wednesday, June 26, 2024

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