CAD/CHF Up 1 Pips in Last 4 Hours, Moves Up For the 3rd Day In A Row; in a Downtrend Over Past 14 Days

CAD/CHF 4 Hour Price Update

Updated June 22, 2020 01:07 PM GMT (09:07 AM EST)

CAD/CHF is up 1 pips (0.01%) since the previous 4 hours (opening the current 4 hour candle near 0.7004), marking the 3rd candle in a row an increase has occurred. Out of the 37 instruments in the Forex asset class, CAD/CHF ended up ranking 15th for the four-hour candle in terms of price change.

CAD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

CAD/CHF is up 1 pips (0.01%) since the day prior (opening today near 0.69985), marking the 3rd day in a row it has gone up. Out of the 40 instruments in the Forex asset class, CAD/CHF ended up ranking 23rd for the day in terms of price change. Below is a price chart of CAD/CHF.

CAD/CHF Technical Analysis

The first thing we should note is that 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 21.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days CAD/CHF’s price has gone up 8 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 5 buy signals on our radar and 19 sell signals. This imputes a buy/sell ratio of 0.26, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

The bear flag formation consists of a initial strong directional move down, followed by a consolidation channel in an upwards direction before continuing its downward momentum….Moves like this usually occur after a long period of consolidation resulting in a breakout and a strong trend….Instagram: @jacquesyseTelegram Public Channel (free): t.me/FxForeCGoodluck and successful trading!