USD/CHF 4 Hour Price Update
Updated June 03, 2020 01:22 AM GMT (09:22 PM EST)
The choppiness in the recent four-hour candle price action of USD/CHF continues; to start the current 4 hour candle, it came in at a price of 0.9617, down 9 pips (0.09%) since the previous 4 hours. Out of the 37 instruments in the Forex asset class, USD/CHF ended up ranking 27th for the four-hour candle in terms of price change.
USD/CHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of USD/CHF continues; to start today, it came in at a price of 0.96169, down 5 pips (0.06%) since the previous day. Relative to other instruments in the Forex asset class, USD/CHF ranked 31st the previous day in terms of percentage price change. Below is a price chart of USD/CHF.
USD/CHF Technical Analysis
The first thing we should note is that USD/CHF is now close to its 20, 50, 100 and 200 day averages, located at 0.9676, 0.9684, 0.9675 and 0.9749 respectively, and thus may be at a key juncture along those timeframes. 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 100 day average, which is 58.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days USD/CHF’s price has gone up 8 them. 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
Of note is that traders in aggregate have opinions on USDCHF, with 14 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 1.4, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
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