CLP/CHF Currency Pair Forecast

Green day on Tuesday for CLP/CHF currency pair after gaining 0.127%
(Updated on Jun 25, 2024)

CLPCHF Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 0.223%. Further rise is indicated until a new top pivot has been found. 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. The CLP/CHF 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 0.0010 Fr and 0.0010 Fr. 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).

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

CLP/CHF finds support from accumulated volume at 0.0009 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 0.0000112 Fr (1.19%) between high and low. For the last week, the currency pair has had daily average volatility of 181.10%.

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

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

For the upcoming trading day on Wednesday, 26th we expect CLP/CHF to open at 0.0009 Fr, and during the day (based on 14 day Average True Range), to move between 0.0009 Fr and 0.0010 Fr, which gives a possible trading interval of +/-0.00005677 Fr (+/-6.00%) up or down from last closing price. If CLP/CHF takes out the full calculated possible swing range there will be an estimated 12.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 0.0009 Fr (0.09%) than the resistance at 0.0009 Fr (0.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is CLP/CHF currency pair A Buy?

The CLP/CHF currency pair holds several negative signals and despite the positive trend, we believe CLP/CHF will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this currency pair.

Current score: -1.195 Sell Candidate Unchanged

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

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