NZD/CHF 4 Hour Price Update
Updated July 31, 2020 05:10 AM GMT (01:10 AM EST)
A moment of silence, please, for the end of NZD/CHF’s 3 four-hour candle up streak; price ended the last 4 hour candle down 17 pips (-0.28%) to finish the four-hour candle at a rate of 0.6066. Compared to its peers in the Forex, NZD/CHF gave its buyers a return that ranked 31st in terms of percentage change since the last 4 hour candle.
NZD/CHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of NZD/CHF continues; to start today, it came in at a price of 0.6083937664, down 5 pips (0.08%) since the previous day. Out of the 40 instruments in the Forex asset class, NZD/CHF ended up ranking 36th for the day in terms of price change. Here is a price chart of NZD/CHF.
NZD/CHF Technical Analysis
Notably, the current price of NZD/CHF is sitting close to its 20, 50, 100 and 200 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 200 day average, which is 15.9 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 NZD/CHF’s price has gone down 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
Not much in terms quality buy/sell signals we’re seeing for NZDCHF; just 1 sell signals and 3 buy signals. This imputes a buy/sell ratio of 3, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a double top technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Possible double bottom and W shape reversion.Price is entering oversold levels as it reaches 0.6042 support level. My sentiment is bullish and I’ll enter long as soon as price retests the support level. As Target I believe it can try to reach the previous high forming a double Top pattern.