NZD/CHF Up 15 Pips Over Past 4 Hours, Crosses 200 Day Moving Average; Pin Bar Pattern Appearing on Chart

NZD/CHF 4 Hour Price Update

Updated June 23, 2020 01:09 PM GMT (09:09 AM EST)

NZD/CHF is up 15 pips (0.24%) since the last 4 hour candle (opening the current 4 hour candle near 0.6148), marking the 2nd candle in a row an upward move has occurred. Compared to its peers in the Forex, NZD/CHF gave its buyers a return that ranked 3rd in terms of percentage change since the last 4 hour candle.

NZD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/CHF is up 10 pips (0.16%) since the previous day (opening today near 0.6149406508), marking the 3rd day in a row it has gone up. Out of the 40 instruments in the Forex asset class, NZD/CHF ended up ranking 14th for the day in terms of price change. Here is a price chart of NZD/CHF.

NZD/CHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: NZD/CHF crossed above its 200 day moving average yesterday. 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 20 day average, which is 2.2 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. Volatility for NZD/CHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 14 days. 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 NZDCHF, with 1 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.25, 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.

We can see in yellow candle, its a bullish engulfing signal which I program in Pine. In this signal there is a potentially position to open, with the scenario based on Fibonacci Retracement .ScenarioOP : 0.6104 – 0.6114 (38-50) percentSL : 0.6073 (0) percentTP : 0.6206 (168) percent