USD/CHF Down 1 Pips Over Past 4 Hours, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

USD/CHF 4 Hour Price Update

Updated June 04, 2020 01:09 AM GMT (09:09 PM EST)

USD/CHF is down 1 pips (0.01%) since the last 4 hour candle (opening the current 4 hour candle near 0.9614), marking the 3rd candle in a row it has gone down. Out of the 37 instruments in the Forex asset class, USD/CHF ended up ranking 21st 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 entered today at 0.96149, up 3 pips (0.03%) from the previous day. Compared to its peers in the Forex, USD/CHF gave its buyers a return that ranked 24th in terms of percentage change since the previous day. Here 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 0.9672, 0.9683, 0.9674 and 0.9747 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 20 day average, which is 56.7 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 5 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on USDCHF, with 21 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 2.33, 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.

USDCHF is tracing a triangle pattern that will complete wave B. It is now in wave c of the triangle that should not surpass 1.0248. If price crosses down 0.918 this analysis should be revised. FOLLOW SKYLINEPRO TO GET UPDATES.