USD/CHF Up 17 Pips On 4 Hour Chart, Came Into Today Down For the 3rd Day In A Row; Pin Bar Pattern Appearing on Chart

USD/CHF 4 Hour Price Update

Updated August 06, 2020 09:07 AM GMT (05:07 AM EST)

USD/CHF is up 17 pips (0.19%) since the last 4 hour candle (opening the current 4 hour candle near 0.91), marking the 2nd candle in a row it has gone up. Out of the 37 instruments in the Forex asset class, USD/CHF ended up ranking 12th 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 4 pips (0.05%) since the day prior (opening today near 0.90802), marking the 3rd day in a row a decrease has occurred. Out of the 40 instruments in the Forex asset class, USD/CHF ended up ranking 38th for the day in terms of price change. Below is a price chart of USD/CHF.

USD/CHF

USD/CHF Technical Analysis

Coming into today USD/CHF is now close to its 20 day moving averages, which may act as price barrier for the asset. 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. 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. Or to simplify this another way, note that out of the past 30 days USD/CHF’s price has gone down 18 them. 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

We’re seeing some traders come out with interesting conviction on USDCHF, with 22 buy signals on our radar and 15 sell signals. This imputes a buy/sell ratio of 1.47, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Method 1+ Keltner channel: the price closed above or below Upper / Lower Keltner for signal 1….https://www.tradingview.com/x/O08Dedog Method 2+ Keltner channel: price closes above or below Upper 2 / Lower 2 Keltner gives signal 1….———————————— Stoploss: Calculated from the entry point + – actual fluctuation by the formula ATR (20) * risk ratio (risk).