RON/CHF Currency Pair Forecast

Green day on Friday for RON/CHF
(Updated on May 17, 2024)

RONCHF Signals & Forecast

Mostly positive signals in the chart today. The RON/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 0.197 Fr and 0.196 Fr. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.97%. 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). RON/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. 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 0.197 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 0.0009 Fr between high and low, or 0.479%. For the last week the currency pair has had daily average volatility of 0.554%.

Our recommended stop-loss: 0.188 Fr (-5.15%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)

Trading Expectations (RONCHF) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect RON/CHF to open at 0.198 Fr, and during the day (based on 14 day Average True Range), to move between 0.197 Fr and 0.200 Fr, which gives a possible trading interval of +/-0.0011 Fr (+/-0.57%) up or down from last closing price. If RON/CHF takes out the full calculated possible swing range there will be an estimated 1.13% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 0.197 Fr, some 0.0018 Fr (0.90%) from the current price of 0.198 Fr, our system finds the risk reward attractive.

Is RON/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 RON/CHF currency pair to perform well in the short-term.

Current score: 4.100 Buy Candidate Unchanged

Predicted Opening Price for RON/CHF of Monday, May 20, 2024

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