CAD/CHF Up 19 Pips Over Past 4 Hours, Entered Today Down For the 2nd Day In A Row; is Inching Close to 20 and 50 Day Averages

CAD/CHF 4 Hour Price Update

Updated May 18, 2020 05:08 PM GMT (01:08 PM EST)

CAD/CHF is up 19 pips (0.27%) since the previous 4 hours (opening the current 4 hour candle near 0.6942), marking the 5th candle in a row an increase has occurred. Out of the 37 instruments in the Forex asset class, CAD/CHF ended up ranking 18th for the four-hour candle in terms of price change.

CAD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

CAD/CHF is down 0 pips (0.01%) since the day prior (opening today near 0.68865), marking the 2nd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, CAD/CHF ranked 30th the day prior in terms of percentage price change. Below is a price chart of CAD/CHF.

CAD/CHF Technical Analysis

The first thing we should note is that the current price of CAD/CHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 50 day average, which is 0 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 16 out of the past 30 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on CADCHF, with 2 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 0.18, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of head and shoulders technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.