EUR/CHF Down 0 Pips in Last Hour, Entered Today Down For the 3rd Consecutive Day; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated November 23, 2022 2:21 GMT)

Currently, EURCHF’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURCHF. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

EURCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURCHF is down 13 pips (0.13%) since yesterday (opening today near 0.9805), marking the 3rd consecutive day a decline has happened. Relative to other instruments in the Forex asset class, EURCHF ranked 25th yesterday in terms of percentage price change. Below is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Coming into today the current price of EURCHF 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 20 day average, which is 48.7 pips away. 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 10 days EURCHF’s price has gone down 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.