NZD/CHF Down 5 Pips On 4 Hour Chart, 3 Day Down Streak Broken; Pin Bar Pattern Appearing on Chart

NZD/CHF 4 Hour Price Update

Updated July 27, 2020 09:11 PM GMT (05:11 PM EST)

NZD/CHF is down 5 pips (0.08%) since the previous 4 hours (opening the current 4 hour candle near 0.6143), marking the 2nd candle in a row a decline has happened. Compared to its peers in the Forex, NZD/CHF gave its buyers a return that ranked 25th in terms of percentage change since the previous 4 hours.

NZD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

NZD/CHF, which opened today priced near 0.6113757, is up 3 pips 0.05% since the previous day, marking a reversal from the day prior — and the end of a 3 day negative run. Relative to other instruments in the Forex asset class, NZD/CHF ranked 12th the previous day in terms of percentage price change. Below is a price chart of NZD/CHF.

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 200 day average, which is 4.7 pips away. The clearest trend exists on the 90 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. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

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 9 sell signals. This imputes a buy/sell ratio of 0.11, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of divergence, fibonacci and trendline technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

I took a short position on NZDCHF after I see price rejection FIB levels on the 4 hour chart. It’s a small trade but still a 2:1