SGD/CHF Currency Pair Forecast

Stronger technical forecast for SGD/CHF currency pair price after Friday trading.
(Updated on May 17, 2024)

SGDCHF Signals & Forecast

Mostly positive signals in the chart today. The SGD/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 0.671 Fr and 0.671 Fr. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.09%. 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). SGD/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. Higher liquidity also reduces the general risk. The currency pair had a Golden Star Signal on Tuesday, May 14, 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 SGD/CHF currency pair

SGD/CHF finds support from accumulated volume at 0.668 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 0.0037 Fr between high and low, or 0.544%. For the last week the currency pair has had daily average volatility of 0.143%.

Our recommended stop-loss: 0.622 Fr (-7.85%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)

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

For the upcoming trading day on Monday, 20th we expect SGD/CHF to open at 0.675 Fr, and during the day (based on 14 day Average True Range), to move between 0.673 Fr and 0.678 Fr, which gives a possible trading interval of +/-0.0025 Fr (+/-0.38%) up or down from last closing price. If SGD/CHF takes out the full calculated possible swing range there will be an estimated 0.76% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ 0.668 Fr, some 0.0073 Fr (1.08%) from the current price of 0.675 Fr, our system finds the risk reward attractive.

Is SGD/CHF currency pair A Buy?

SGD/CHF holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.313 Strong Buy Candidate Upgraded

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

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