CAD/CHF Up 2 Pips in Last 4 Hours, Came Into Today Down For the 2nd Day In A Row; Nears 20 Day Moving Average

CAD/CHF 4 Hour Price Update

Updated August 06, 2020 09:08 AM GMT (05:08 AM EST)

CAD/CHF is up 2 pips (0.03%) since the last 4 hour candle (opening the current 4 hour candle near 0.6849), marking the 4th candle in a row an upward move has occurred. Compared to its peers in the Forex, CAD/CHF gave its buyers a return that ranked 20th in terms of percentage change since the last 4 hour candle.

CAD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

CAD/CHF is down 1 pips (0.02%) since yesterday (opening today near 0.6846), marking the 2nd day in a row it has gone down. Out of the 40 instruments in the Forex asset class, CAD/CHF ended up ranking 33rd for the day in terms of price change. Here is a price chart of CAD/CHF.

CAD/CHF

CAD/CHF Technical Analysis

Coming into today CAD/CHF is now close to its 20, 50 and 100 day averages, located at 0.6878, 0.693 and 0.6942 respectively, and thus may be at a key juncture along those timeframes. 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. Or to simplify this another way, note that out of the past 10 days CAD/CHF’s price has gone down 5 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on CADCHF, with 0 buy signals on our radar and 12 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of channel, fibonacci and triangle 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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