USD/CHF Up 12 Pips Over Past 4 Hours, Moves Down For the 5th Day In A Row; is Inching Close to 20 Day Average

USD/CHF 4 Hour Price Update

Updated March 27, 2020 12:52 AM GMT (08:52 PM EST)

A moment of silence, please, for the end of USD/CHF’s 9 four-hour candle down streak; price ended the last 4 hour candle up 12 pips (0.12%) to finish the four-hour candle at a rate of 0.962. Relative to other instruments in the Forex asset class, USD/CHF ranked 10th 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 is down 14 pips (0.15%) since yesterday (opening today near 0.9613), marking the 5th day in a row it has gone down. Out of the 40 instruments in the Forex asset class, USD/CHF ended up ranking 30th for the day in terms of price change. Let’s take a look at price chart of USD/CHF.

USD/CHF Technical Analysis

Coming into today USD/CHF is now close to its 20, 50, 100 and 200 day averages, located at 0.9582, 0.9672, 0.9715 and 0.9804 respectively, and thus may be at a key juncture along those timeframes. Or to simplify this another way, note that out of the past 30 days USD/CHF’s price has gone down 20 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

Of note is that traders in aggregate have opinions on USDCHF, with 16 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 1.23, 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 idea buyI still expect a long A triangle formed and I’m waiting for the exit up + on the daily chart a drop in volumes….Target 1 – 1.00200But there is an alternative : if the price breaks the triangle and the trend line down….After the decline in prices I will expect the following targets:Alternative target buy :Target 1 – 1.00200Target 2 – 1.02330Target 3 – 1.03350https://www.tradingview.com/chart/USDCHF/qEQmvu3G-USDCHF-idea-short-and-long/