CAD/CHF Down 42 Pips; in a Downtrend Over Past 14 Days

CAD/CHF Price Recap

The back and forth price flow continues for CAD/CHF, which starts today off at 0.68055 US dollars, down 42 pips 0.61% from the previous day. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 19.2% from the day prior, but up 2.37% 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. Let’s take a look at price chart of CAD/CHF.

CAD/CHF Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 12 out of the past 14 days.

A final note on correlations: over the past 7 days, the currency pair bearing the strongest correlation to CAD/CHF has been CAD/JPY — not terribly surprising, given that CAD is in both currency pairs. As for pairs with the least correlation, EUR/CAD is the pair that holds that distinction for the past two weeks.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for CADCHF; just 2 sell signals and 1 buy 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 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.

CADCHF has met my requirements for a Cypher Harmonic Pattern- Entry is around 0.68600- Target 0.67950- Divergence is appearing on the lower time frames As always THANK YOU and if you found this idea helpful, please let me know by hitting that like button and/or leaving me a comment below….Also, feel free to share your opinion on this setup or other setups that you have on your radar for the CADCHF….The more ideas we can generate the more informative these ideas become for newer traders.