USD/CHF Up 8 Pips On 4 Hour Chart, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

USD/CHF 4 Hour Price Update

Updated June 30, 2020 09:08 PM GMT (05:08 PM EST)

The back and forth price flow continues for USD/CHF, which started the current 4 hour candle off at 0.9475, up 8 pips 0.08% from the last 4 hour candle. Relative to other instruments in the Forex asset class, USD/CHF ranked 17th the last 4 hour candle in terms of percentage price change.

USD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USD/CHF, which started today off at 0.9509, down 3 pips 0.03% from yesterday. Compared to its peers in the Forex, USD/CHF gave its buyers a return that ranked 33rd in terms of percentage change since yesterday. Here is a price chart of USD/CHF.

USD/CHF Technical Analysis

Notably, the current price of USD/CHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for USD/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 down over that time. For additional context, note that price has gone up 7 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on USDCHF, with 13 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 1.3, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel, divergence and fibonacci technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

TECHNICALS: USDCHF is trading near an important daily horizontal resistance that aligns with the 61.8% Fib level, signaling a possible continuation of the underlying downtrend….POSITIONING: Bullish positioning in the CHF increased among all CoT categories except non-commericals (only a small decrease there), giving the CHF a bullish ranking of 8 /10….The US dollar is still quite bearish with a ranking of 4 / 10.