NZD/CHF Down 9 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; in an Uptrend Over Past 90 Days

NZD/CHF 4 Hour Price Update

Updated June 24, 2020 01:12 PM GMT (09:12 AM EST)

NZD/CHF is down 9 pips (0.15%) since the previous 4 hours (opening the current 4 hour candle near 0.6078), marking the 3rd candle in a row a decrease has occurred. Out of the 37 instruments in the Forex asset class, NZD/CHF ended up ranking 31st for the four-hour candle in terms of price change.

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 0.6137420544, up 5 pips (0.08%) since the previous day. Relative to other instruments in the Forex asset class, NZD/CHF ranked 11th the previous day in terms of percentage price change. The price chart of NZD/CHF below illustrates.

NZD/CHF Technical Analysis

Coming into today NZD/CHF is now close to its 20, 50 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 200 day average, which is 1.6 pips away. 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days NZD/CHF’s price has gone up 5 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for NZDCHF; just 0 sell signals and 3 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s take that with a grain of salt. 🙂 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