CAD/CHF Down 7 Pips On 4 Hour Chart, 2 Day Down Streak Broken; Price Base in Formation Over Past 14 Days

CAD/CHF 4 Hour Price Update

Updated May 13, 2020 01:09 AM GMT (09:09 PM EST)

CAD/CHF is down 7 pips (0.1%) since the previous 4 hours (opening the current 4 hour candle near 0.6888), marking the 4th candle in a row it has gone down. Compared to its peers in the Forex, CAD/CHF gave its buyers a return that ranked 25th in terms of percentage change since the previous 4 hours.

CAD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of CAD/CHF continues; to start today, it came in at a price of 0.68895, up 4 pips (0.06%) since yesterday. Compared to its peers in the Forex, CAD/CHF gave its buyers a return that ranked 11th in terms of percentage change since yesterday. Let’s take a look at price chart of CAD/CHF.

CAD/CHF Technical Analysis

Coming into today the current price of CAD/CHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 50 day average, which is 12.6 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. 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. Or to simplify this another way, note that out of the past 30 days CAD/CHF’s price has gone up 17 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on CADCHF, with 1 buy signals on our radar and 15 sell signals. This imputes a buy/sell ratio of 0.07, which is quite bearish. 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.

Follow the trend, trend channel provided with the support and resistance levels. Trade at own risk!!!!