USD/CHF Currency Pair Forecast
Green day on Friday for USD/CHF currency pair after gaining 0.330%
(Updated on Jun 21, 2024)
The USD/CHF currency pair price gained 0.330% on the last trading day (Friday, 21st Jun 2024), rising from 0.89 Fr to 0.89 Fr. During the last trading day the currency pair fluctuated 0.478% from a day low at 0.89 Fr to a day high of 0.89 Fr. The price has been going up and down for this period, and there has been a -0.14% loss for the last 2 weeks. Volume fell on the last day by -19 thousand shares and in total, 127 thousand shares were bought and sold for approximately 113.89 Fr thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The currency pair is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect USD/CHF currency pair with a 90% probability to be traded between 0.87 Fr and 0.90 Fr at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and currency pairs seldom manage to go directly from the bottom of a trend up to the top. Currency pairs turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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USDCHF Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 1.18%. 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. The USD/CHF currency pair holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the currency pair giving a more negative forecast for the stock. On further gains, the currency pair will meet resistance from the long-term Moving Average at 0.90 Fr. On a fall, the currency pair will find some support from the short-term average at 0.89 Fr. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 also not.
Support, Risk & Stop-loss for USD/CHF currency pair
USD/CHF finds support from accumulated volume at 0.89 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 0.0043 Fr between high and low, or 0.478%. For the last week the currency pair has had daily average volatility of 0.558%
Our recommended stop-loss: 0.85 Fr (-5.07%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (USDCHF) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect USD/CHF to open at 0.89 Fr, and during the day (based on 14 day Average True Range), to move between 0.89 Fr and 0.90 Fr, which gives a possible trading interval of +/-0.0044 Fr (+/-0.49%) up or down from last closing price. If USD/CHF takes out the full calculated possible swing range there will be an estimated 0.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 0.89 Fr (0.33%) than the resistance at 0.91 Fr (1.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is USD/CHF currency pair A Buy?
USD/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: 0.314 Hold/Accumulate Unchanged
Predicted Opening Price for USD/CHF of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| 0.89 Fr ( 0.131%) | 0.89 Fr |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for USDCHF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.90 | 0.345% |
| R2 | 0.90 | 0.163% |
| R1 | 0.89 | 0.0508% |
| Price | 0.89 | |
| S1 | 0.89 | -0.313% |
| S2 | 0.89 | -0.426% |
| S3 | 0.89 | -0.608% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.91 | 2.24% |
| R2 | 0.91 | 1.82% |
| R1 | 0.91 | 1.80% |
| Price | 0.89 | |
| S1 | 0.89 | -0.329% |
| S2 | 0.89 | -0.451% |
| S3 | 0.88 | -1.16% |
FAQ
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