NZD/CHF Up 8 Pips in Last 4 Hours, Makes Big Move Relative to Past Month; Pin Bar Pattern Appearing on Chart

NZD/CHF 4 Hour Price Update

Updated July 24, 2020 09:09 PM GMT (05:09 PM EST)

NZD/CHF entered the current 4 hour candle at 0.6122, up 8 pips (0.13%) from the last 4 hour candle. Out of the 37 instruments in the Forex asset class, NZD/CHF ended up ranking 8th for the four-hour candle in terms of price change.

NZD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/CHF entered today at 0.613975992, down 0 pips (0%) from the previous day. Out of the 40 instruments in the Forex asset class, NZD/CHF ended up ranking 22nd for the day in terms of price change. The price chart of NZD/CHF below illustrates.

NZD/CHF

NZD/CHF Technical Analysis

The first thing we should note is that NZD/CHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 1 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days NZD/CHF’s price has gone down 5 them. 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 NZDCHF, with 0 buy signals on our radar and 9 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 a relative strength index technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

if so, traders can set orders based on Price Action and expect to reach short-term targets….Be sure to leave a comment let us know how do you see this opportunity and forecast….Trade well, ❤️ForecastCity English Support Team ❤️