USD/CHF Down 17 Pips On 4 Hour Chart, Moves Down For the 3rd Day In A Row; Breaks Below 200 Day Average

USD/CHF 4 Hour Price Update

Updated March 25, 2020 01:42 PM GMT (09:42 AM EST)

USD/CHF entered the current 4 hour candle at 0.9803, down 17 pips (0.17%) from the last 4 hour candle. Out of the 40 instruments in the Forex asset class, USD/CHF ended up ranking 26th for the four-hour candle in terms of price change.

USD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/CHF is down 13 pips (0.14%) since yesterday (opening today near 0.9798), marking the 3rd day in a row it has gone down. Compared to its peers in the Forex, USD/CHF gave its buyers a return that ranked 35th in terms of percentage change since yesterday. The price chart of USD/CHF below illustrates.

USD/CHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USD/CHF crossed below its 200 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days USD/CHF’s price has gone down 19 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on USDCHF, with 12 buy signals on our radar and 12 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a double top technical pattern. Here’s a piece we found on; below is a short snippet from it to give you a taste.

We got some bullish price action there. Bullish engulfing bar follower by a pullback. The entry was just above the pin bar, that closed above MA`s. 1:2.3 RRBest regards, Becker Investments