CLP/CHF Currency Pair Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for CLP/CHF currency pair after losing 2.10%
(Updated on Jun 14, 2024)
The CLP/CHF currency pair price fell by -2.10% on the last day (Friday, 14th Jun 2024) from 0.0010 Fr to 0.0009 Fr. During the last trading day the currency pair fluctuated 2.33% from a day low at 0.0009 Fr to a day high of 0.0010 Fr. The price has fallen in 5 of the last 10 days and is down by -3.27% for this period. Volume has increased on the last day by 172 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 921 thousand shares were bought and sold for approximately 874.42 Fr .
Given the current short-term trend, the currency pair is expected to rise 8.47% during the next 3 months and, with a 90% probability hold a price between 0.0010 Fr and 0.0011 Fr at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CLPCHF Signals & Forecast
There are few to no technical positive signals at the moment. 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. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -7.39%. 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). CLP/CHF 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 very low volume increases the risk and reduces the other technical signals issued.
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 0.0000221 Fr (2.33%) between high and low. For the last week, the currency pair has had daily average volatility of 1.21%.
CLP/CHF is oversold on RSI14 (20). Some currency pairs may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 Monday 17th
For the upcoming trading day on Monday, 17th we expect CLP/CHF to open at 0.0010 Fr, and during the day (based on 14 day Average True Range), to move between 0.0009 Fr and 0.0010 Fr, which gives a possible trading interval of +/-0.00001092 Fr (+/-1.15%) up or down from last closing price. If CLP/CHF takes out the full calculated possible swing range there will be an estimated 2.30% 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 (0.45%) than the resistance at 0.0010 Fr (2.06%), 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: -2.341 Sell Candidate Unchanged
Predicted Opening Price for CLP/CHF of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| 0.0010 Fr ( 0.698%) | 0.0009 Fr |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CLPCHF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0010 | 3.02% |
| R2 | 0.0010 | 2.14% |
| R1 | 0.0010 | 1.59% |
| Price | 0.0009 | |
| S1 | 0.0009 | -0.190% |
| S2 | 0.0009 | -0.739% |
| S3 | 0.0009 | -1.63% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0010 | 2.45% |
| R2 | 0.0010 | 2.15% |
| R1 | 0.0010 | 2.06% |
| Price | 0.0009 | |
| S1 | 0.0009 | -0.454% |
| S2 | 0.0009 | -1.34% |
| S3 | 0.0009 | -3.85% |
FAQ
Click here for our free guide on how to buy CLP/CHF Currency pair.
