USD/CHF Currency Pair Forecast
Green day on Thursday for USD/CHF currency pair after gaining 0.136%
(Updated on Jun 27, 2024)
The USD/CHF currency pair price gained 0.136% on the last trading day (Thursday, 27th Jun 2024), rising from 0.90 Fr to 0.90 Fr. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the currency pair fluctuated 0.349% from a day low at 0.90 Fr to a day high of 0.90 Fr. The price has risen in 6 of the last 10 days and is up by 0.55% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 110 thousand shares were bought and sold for approximately 98.69 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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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 1.67%. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Wednesday, May 22, 2024 with a target of 0.90 Fr. Despite whether the objective of the signal formation has been reached the currency pair may continue to fall.
Support, Risk & Stop-loss for USD/CHF currency pair
USD/CHF finds support from accumulated volume at 0.90 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 0.0031 Fr between high and low, or 0.349%. For the last week the currency pair has had daily average volatility of 0.399%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (USDCHF) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect USD/CHF to open at 0.90 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 +/-0.0041 Fr (+/-0.46%) up or down from last closing price. If USD/CHF takes out the full calculated possible swing range there will be an estimated 0.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 0.90 Fr (0.34%) than the resistance at 0.91 Fr (1.31%), 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 negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this currency pair.
Current score: -1.453 Sell Candidate Unchanged
Predicted Opening Price for USD/CHF of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| 0.90 Fr ( 0.0946%) | 0.90 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 | 0.254% |
| R2 | 0.90 | 0.121% |
| R1 | 0.90 | 0.0385% |
| Price | 0.90 | |
| S1 | 0.90 | -0.228% |
| S2 | 0.90 | -0.310% |
| S3 | 0.89 | -0.443% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.91 | 1.75% |
| R2 | 0.91 | 1.33% |
| R1 | 0.91 | 1.31% |
| Price | 0.90 | |
| S1 | 0.90 | -0.341% |
| S2 | 0.89 | -0.81% |
| S3 | 0.89 | -0.93% |
FAQ
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