CAD/CHF 4 Hour Price Update
Updated April 09, 2020 01:04 AM GMT (09:04 PM EST)
CAD/CHF entered the current 4 hour candle at 0.6939, up 14 pips (0.2%) from the previous 4 hours. Relative to other instruments in the Forex asset class, CAD/CHF ranked 2nd the previous 4 hours in terms of percentage price change.
CAD/CHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
CAD/CHF is up 7 pips (0.11%) since yesterday (opening today near 0.694), marking the 2nd day in a row an increase has occurred. Compared to its peers in the Forex, CAD/CHF gave its buyers a return that ranked 18th in terms of percentage change since yesterday. Here is a price chart of CAD/CHF.
CAD/CHF Technical Analysis
Notably, the current price of CAD/CHF is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 14 day timeframe. Or to simplify this another way, note that out of the past 14 days CAD/CHF’s price has gone down 8 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on CADCHF, with 4 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 0.5, which is bearish. As for the rationale, technical traders seem to be citing the appearance of channel and trendline technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
after a good rally it needs some correction (which is also a pullback to prior trendline) to absorb some energy for more upside.very short-term downside scalp is possible if your are a risky trader.we are looking for a three wave abc correction.