CAD/CHF Up 1 Pips On 4 Hour Chart, Entered Today Down For the 3rd Day In A Row; is Inching Close to 20, 50 and 100 Day Averages
As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern.
CADCHF
(Last Updated July 7, 2020)
Hello! This is the news page for CADCHF. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
As for trends on CADCHF, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
CADCHF Moving Averages
CADCHF’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 100) — are bearish, implying a downward trend, save for a jump that occurred about 3 months ago.
Below is a chart showing CADCHF’s price with its moving averages.
In terms of correlations over the past week for CADCHF, it has demonstrated the strongest correlation with USDJPY. If we zoom out to a two week basis, though, USDCAD is the asset most correlated to CADCHF. Alternatively, USDTRY has been the asset least correlated with CADCHF — but if we observe the prior two weeks, the asset least correlated with CADCHF has been CHFJPY. See the chart below to observe the recent price action in CADCHF versus those of assets it hasn’t been well correlated with.
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CAD/CHF Up 2 Pips Over Past 4 Hours, Moves Down For the 3rd Day In A Row; in a Downtrend Over Past 30 Days
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
CAD/CHF Down 7 Pips in Last 4 Hours; Nears 20 and 50 Day Moving Averages
The closest is the 20 day average, which is 13.3 pips away.
CAD/CHF Up 4 Pips in Last 4 Hours, Moves Up For the 2nd Day In A Row; Nears 20 and 50 Day Moving Averages
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
CAD/CHF Down 1 Pips Over Past 4 Hours, Came Into Today Up For the 4th Day In A Row; Pin Bar Pattern Appearing on Chart
Volatility for cad/chf has been contracting over the past two weeks relative to volatility over the past month.
CAD/CHF Down 3 Pips On 4 Hour Chart, is Inching Close to 20 and 50 Day Averages; Pin Bar Pattern Appearing on Chart
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.
CAD/CHF Up 26 Pips Over Past 4 Hours, Moves Up For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart
The closest is the 50 day average, which is 20.4 pips away.
CAD/CHF Up 10 Pips On 4 Hour Chart, in a Downtrend Over Past 14 Days; is Inching Close to 100 Day Average
It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign.
CAD/CHF Up 1 Pips in Last 4 Hours, Came Into Today Up For the 2nd Day In A Row; is Inching Close to 50 and 100 Day Averages
This imputes a buy/sell ratio of 2.5, which is bullish.
CAD/CHF Up 14 Pips On 4 Hour Chart, Moves Down For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart
It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign.