CAD/CHF Up 26 Pips Over Past 4 Hours, Moves Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

CAD/CHF 4 Hour Price Update

Updated June 30, 2020 09:10 PM GMT (05:10 PM EST)

A moment of silence, please, for the end of CAD/CHF’s 3 four-hour candle down streak; price ended the previous 4 hours up 26 pips (0.37%) to finish the four-hour candle at a rate of 0.6979. Relative to other instruments in the Forex asset class, CAD/CHF ranked 2nd the previous 4 hours in terms of percentage price change.

CAD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

CAD/CHF is up 1 pips (0.01%) since yesterday (opening today near 0.69641), marking the 3rd day in a row it has gone up. Relative to other instruments in the Forex asset class, CAD/CHF ranked 27th yesterday in terms of percentage price change. Let’s take a look at price chart of CAD/CHF.

CAD/CHF Technical Analysis

Notably, CAD/CHF is now close to its 20, 50 and 100 day averages, located at 0.6994, 0.6985 and 0.6924 respectively, and thus may be at a key juncture along those timeframes. 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 20.4 pips away. 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. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone up 7 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.