NZD/CHF Currency Pair Forecast

Green day on Thursday for NZD/CHF
(Updated on May 16, 2024)

NZDCHF Signals & Forecast

The NZD/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 0.548 Fr and 0.543 Fr. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Sunday, April 21, 2024, and so far it has risen 3.43%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The currency pair had a Golden Star Signal on Monday, April 22, 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.

Buy

Special Signal Notification

Golden Star

The currency pair had a Golden Star Signal on Monday, April 22, 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Friday, March 15, 2024 with a target of 0.543 Fr. Despite whether the objective of the signal formation has been reached the currency pair may continue to perform well.

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

NZD/CHF finds support from accumulated volume at 0.542 Fr 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the currency pair During the last day, the currency pair moved 0.0009 Fr between high and low, or 0.159%. For the last week the currency pair has had daily average volatility of 0.231%

The NZD/CHF currency pair is extremely overbought on RSI14 (78). 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: 0.526 Fr (-4.94%) (This currency pair has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (NZDCHF) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect NZD/CHF to open at 0.554 Fr, and during the day (based on 14 day Average True Range), to move between 0.551 Fr and 0.556 Fr, which gives a possible trading interval of +/-0.0024 Fr (+/-0.43%) up or down from last closing price. If NZD/CHF takes out the full calculated possible swing range there will be an estimated 0.87% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 0.542 Fr, some 0.0115 Fr (2.07%) from the current price of 0.554 Fr, our system finds the risk reward attractive.

Is NZD/CHF currency pair A Buy?

NZD/CHF holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for NZD/CHF of Friday, May 17, 2024

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