AUD/CHF Up 21 Pips On 4 Hour Chart, Moves Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

AUD/CHF 4 Hour Price Update

Updated June 23, 2020 01:09 PM GMT (09:09 AM EST)

AUD/CHF is up 21 pips (0.32%) since the last 4 hour candle (opening the current 4 hour candle near 0.6573), marking the 2nd candle in a row it has gone up. For context, observe that the last 4 hour candle were noteworthy in the sense that AUD/CHF bested all 37 of the assets in the Forex class.

AUD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

AUD/CHF is up 17 pips (0.26%) since yesterday (opening today near 0.65633), marking the 3rd day in a row it has gone up. Out of the 40 instruments in the Forex asset class, AUD/CHF ended up ranking 5th for the day in terms of price change. The price chart of AUD/CHF below illustrates.

AUD/CHF Technical Analysis

Coming into today AUD/CHF is now close to its 20, 50 and 200 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 19.3 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 7 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on AUDCHF, with 6 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 0.55, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

We can see in yellow candle, its a bullish engulfing signal which I program in Pine. In this signal there is a potentially position to open, with the scenario based on Fibonacci Retracement .ScenarioOP : 0.6510 – 0.6520 (38-50) percentSL : 0.6478 (0) percentTP : 0.6612 (168) percent