CAD/CHF Price Recap
The back and forth price flow continues for CAD/CHF, which starts today off at 0.6663 US dollars, down 102 pips 1.52% from the previous day. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 8.07% from the day prior, and up 16.14% from the same day the week before. Out of the 40 instruments in the Forex asset class, CAD/CHF ended up ranking 28th for the day in terms of day-over-day price change. The price chart of CAD/CHF below illustrates.
CAD/CHF Technical Analysis
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 7 out of the past 10 days.
The View From Around the Web
Of note is that traders in aggregate have opinions on CADCHF, with 6 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 1.2, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a divergence technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
There is bullish divergence on the 4hr chart. Might be too late to enter now unless maybe look for it to take a dip and then go long then.