CAD/CHF Up 13 Pips, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

CAD/CHF Price Recap

CAD/CHF enters today at 0.67655 in US dollars, up 13 pips (0.19%) from the day prior. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 10.41% from the day before — and down 39.67% from the same day the week before. Out of the 40 instruments in the Forex asset class, CAD/CHF ended up ranking 13th for the day in terms of day-over-day price change. Here is a price chart of CAD/CHF.

CAD/CHF Technical Analysis

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 14 days CAD/CHF’s price has gone down 10 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 7 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 1, 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.