RON/CHF Currency Pair Forecast

RON/CHF currency pair downgraded from Buy Candidate to Sell Candidate after Wednesday trading session.
(Updated on May 08, 2024)

RONCHF Signals & Forecast

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. The RON/CHF currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 0.196 Fr and 0.196 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, April 08, 2024, and so far it has fallen -0.86%. Further fall is indicated until a new bottom pivot has been found. RON/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. 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.

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

RON/CHF finds support from accumulated volume at 0.195 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 with good liquidity the risk is considered very low in this stock. During the last day, the currency pair moved 0.0006 Fr between high and low, or 0.326%. For the last week the currency pair has had daily average volatility of 0.564%.

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

Trading Expectations (RONCHF) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect RON/CHF to open at 0.196 Fr, and during the day (based on 14 day Average True Range), to move between 0.195 Fr and 0.197 Fr, which gives a possible trading interval of +/-0.0012 Fr (+/-0.61%) up or down from last closing price. If RON/CHF takes out the full calculated possible swing range there will be an estimated 1.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 0.196 Fr (0.11%) than the support at 0.195 Fr (0.23%), 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 RON/CHF currency pair A Buy?

The RON/CHF currency pair holds several negative signals and despite the positive trend, we believe RON/CHF will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this currency pair. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this currency pair since the last evaluation from a Buy to a Sell candidate.

Current score: -1.863 Sell Candidate Downgraded

Predicted Opening Price for RON/CHF of Thursday, May 9, 2024

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