CAD/CHF Down 24 Pips On 4 Hour Chart, 3 Day Down Streak Ended; Pin Bar Pattern Appearing on Chart

CAD/CHF 4 Hour Price Update

Updated March 25, 2020 01:38 PM GMT (09:38 AM EST)

After 5 up four-hour candles, CAD/CHF snaps its streak, falling 24 pips (-0.35%) over the past four-hour candle to close at an exchange rate of 0.6807. Compared to its peers in the Forex, CAD/CHF gave its buyers a return that ranked 28th in terms of percentage change since the last 4 hour candle.

CAD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

A moment of silence, please, for the end of CAD/CHF’s 3 day down streak; price ended yesterday up 4 pips (0.06%) to finish the day at a rate of 0.6787. Relative to other instruments in the Forex asset class, CAD/CHF ranked 21st yesterday in terms of percentage price change. Let’s take a look at price chart of CAD/CHF.

CAD/CHF Technical Analysis

Coming into today CAD/CHF is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for CAD/CHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days CAD/CHF’s price has gone down 21 them. 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 CADCHF, with 24 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 3, which is bullish. 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.

CADCHF 1h analysisim expecting a rise from the current market price but I have another entry at the 50% fib levelfollow proper risk management