CAD/CHF Down 130 Pips; in a Downtrend Over Past 14 Days

CAD/CHF Price Recap

0.67525 (USD) was the opening price of the day for CAD/CHF, resulting in yesterday being a day in which price moved down 130 pips 1.88% from the day prior. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 8.28% from the day prior, and up 144.54% from the same day the week before. Out of the 40 instruments in the Forex asset class, CAD/CHF ended up ranking 33rd for the day in terms of day-over-day price change. The price chart of CAD/CHF below illustrates.

CAD/CHF Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days CAD/CHF’s price has gone down 17 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on CADCHF, with 9 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 1.8, which is bullish. 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.

Hey Friends here my idea to CADCHF. Break of the Trendline (all information in the Chart)Just my opinion no financial advcie.