CAD/CHF Down 21 Pips On 4 Hour Chart, Moves Up For the 2nd Day In A Row; Breaks Above 20 Day Average

CAD/CHF 4 Hour Price Update

Updated March 26, 2020 05:13 AM GMT (01:13 AM EST)

CAD/CHF is down 21 pips (0.31%) since the previous 4 hours (opening the current 4 hour candle near 0.6842), marking the 2nd candle in a row a decrease has occurred. Relative to other instruments in the Forex asset class, CAD/CHF ranked 39th 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 77 pips (1.13%) since the previous day (opening today near 0.6864), marking the 2nd day in a row an increase has occurred. Out of the 40 instruments in the Forex asset class, CAD/CHF ended up ranking 5th for the day in terms of price change. Here is a price chart of CAD/CHF.

CAD/CHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: CAD/CHF crossed above its 20 day moving average yesterday. 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 30 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. For additional context, note that price has gone up 7 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

We’re seeing some traders come out with interesting conviction on CADCHF, with 14 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 7, which is very bullish. As for the rationale, technical traders seem to be citing the appearance of channel, fibonacci and head and shoulders technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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