EUR/CHF Down 8 Pips Over Past 4 Hours, 2 Day Down Streak Broken; is Inching Close to 50 and 100 Day Averages

EUR/CHF 4 Hour Price Update

Updated June 26, 2020 01:10 PM GMT (09:10 AM EST)

EUR/CHF is down 8 pips (0.08%) since the last 4 hour candle (opening the current 4 hour candle near 1.0629), marking the 2nd candle in a row it has gone down. Relative to other instruments in the Forex asset class, EUR/CHF ranked 22nd the last 4 hour candle in terms of percentage price change.

EUR/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/CHF entered today at 1.06418, up 2 pips (0.02%) from the day prior. Compared to its peers in the Forex, EUR/CHF gave its buyers a return that ranked 23rd in terms of percentage change since the day prior. Below is a price chart of EUR/CHF.

EUR/CHF Technical Analysis

The first thing we should note is that the current price of EUR/CHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 50 day average, which is 2.5 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Volatility for EUR/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 90 day horizon; over that time period, price has been moving up. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days EUR/CHF’s price has gone down 7 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 EURCHF, with 9 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 0.69, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

En el pasado tenemos un fuerte zona de compra sumado a que se encuentra en el 0.61 de fibonacci en temporalidad de 1D