CLP/CHF Currency Pair Forecast

CLP/CHF currency pair upgraded to Buy Candidate.
(Updated on May 24, 2024)

CLPCHF Signals & Forecast

The CLP/CHF 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 0.0010 Fr and 0.0010 Fr. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). CLP/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. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -1.17%. Further fall is indicated until a new bottom pivot has been found.

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

CLP/CHF finds support from accumulated volume at 0.0010 Fr and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This currency pair is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the currency pair moved 0.00001587 Fr (1.59%) between high and low. For the last week, the currency pair has had daily average volatility of 0.681%.

Our recommended stop-loss: 0.0010 Fr (-3.83%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 30 days ago.)

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

For the upcoming trading day on Tuesday, 28th we expect CLP/CHF to open at 0.0010 Fr, and during the day (based on 14 day Average True Range), to move between 0.0010 Fr and 0.0010 Fr, which gives a possible trading interval of +/-0.00001096 Fr (+/-1.08%) up or down from last closing price. If CLP/CHF takes out the full calculated possible swing range there will be an estimated 2.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 0.0010 Fr (0.71%) than the support at 0.0010 Fr (4.67%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is CLP/CHF currency pair A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CLP/CHF currency pair to perform well in the short-term. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.227 Buy Candidate Upgraded

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

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