CLP/AUD Currency Pair Forecast

Green day on Friday for CLP/AUD currency pair after gaining 1.25%
(Updated on May 17, 2024)

CLPAUD Signals & Forecast

Mostly positive signals in the chart today. The CLP/AUD 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 A$0.0016 and A$0.0016. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 7.95%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). CLP/AUD 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. The currency pair had a Golden Star Signal on Tuesday, April 02, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 02, 2024.

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 CLP/AUD currency pair

CLP/AUD finds support from accumulated volume at A$0.0016 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 A$0.00002351 between high and low, or 1.42%. For the last week the currency pair has had daily average volatility of 0.81%.

The CLP/AUD currency pair is extremely overbought on RSI14 (77). Normally this may pose a good selling opportunity but since the currency pair has broken the trend up, the chance for a major correction due to high RSI is very small as the currency pair will find support at the trend broken.

Our recommended stop-loss: A$0.0016 (-3.46%) (This currency pair has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 43 days ago.)

Trading Expectations (CLPAUD) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect CLP/AUD to open at A$0.0017, and during the day (based on 14 day Average True Range), to move between A$0.0017 and A$0.0017, which gives a possible trading interval of +/-A$0.00001722 (+/-1.03%) up or down from last closing price. If CLP/AUD takes out the full calculated possible swing range there will be an estimated 2.05% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ A$0.0016, some A$0.00004684 (2.79%) from the current price of A$0.0017, our system finds the risk reward attractive.

Is CLP/AUD currency pair A Buy?

Several short-term signals, along with a general good trend, are positive and the currency pair has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for CLP/AUD currency pair to perform well in the short-term period. Due to a possible false trend-break listing currency pair as pure buy candidate is held back.

Current score: 3.352 Buy Candidate Unchanged

Predicted Opening Price for CLP/AUD of Monday, May 20, 2024

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