USD/CHF Up 13 Pips On 4 Hour Chart; in a Downtrend Over Past 90 Days

USD/CHF 4 Hour Price Update

Updated August 03, 2020 05:09 AM GMT (01:09 AM EST)

USD/CHF is up 13 pips (0.14%) since the last 4 hour candle (opening the current 4 hour candle near 0.9148), marking the 2nd candle in a row an increase has occurred. Relative to other instruments in the Forex asset class, USD/CHF ranked 4th the last 4 hour candle in terms of percentage price change.

USD/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/CHF entered today at 0.91162, down 16 pips (0.17%) from yesterday. Compared to its peers in the Forex, USD/CHF gave its buyers a return that ranked 38th in terms of percentage change since yesterday. Let’s take a look at price chart of USD/CHF.

USD/CHF

USD/CHF Technical Analysis

The first thing we should note is that USD/CHF is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 10 days USD/CHF’s price has gone down 8 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on USDCHF, with 22 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 1.69, which is bullish. As for the rationale, technical traders seem to be citing the appearance of moving average and trendline technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

No less important, there was the formation of bullish pivots, with ascending tops and bottoms, which makes it possible to retrace and expand fibonacci combined with elliot waves for target projection, exactly as proposed in the study shown in the graph above….For this trade, I will rely on Larry Willians’ 9.1 setup, that is, if two candles form below the exponential average of 9 periods in H2 and the second exceeds the maximum by one cent, I close the trade, even if there is a loss….Greed will only make you lose money.