CAD/CHF Up 19 Pips Over Past 4 Hours, Came Into Today Down For the 3rd Day In A Row; Price Base in Formation Over Past 14 Days

CAD/CHF 4 Hour Price Update

Updated May 21, 2020 05:05 PM GMT (01:05 PM EST)

CAD/CHF entered the current 4 hour candle at 0.6957, up 19 pips (0.27%) from the previous 4 hours. Compared to its peers in the Forex, CAD/CHF gave its buyers a return that ranked 5th in terms of percentage change since the previous 4 hours.

CAD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

CAD/CHF is down 0 pips (0.01%) since the previous day (opening today near 0.69386), marking the 3rd day in a row a decline has happened. Compared to its peers in the Forex, CAD/CHF gave its buyers a return that ranked 30th in terms of percentage change since the previous day. Below is a price chart of CAD/CHF.

CAD/CHF Technical Analysis

Notably, CAD/CHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 19.8 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 8 out of the past 14 days. 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 10 buy signals on our radar and 18 sell signals. This imputes a buy/sell ratio of 0.56, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

1. Seems formed HidBull Divergence2. Seems formed Bearish Three Line Strike3. Seems bouncing on Fibo 61.8Set Pending Order about 0.69380Good Luck ! Safe Trade !