EURCHF Down 0 Pips Over Past Hour, 3 Day Up Streak Snapped; Breaks Below 100 Day Average

Hourly Update

(Last Updated September 10, 2021 2:17 GMT)

At the moment, EURCHF’s rate is down 0 pips (0%) from the hour prior. EURCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 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 downtrend on the 20 and 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)

After 3 up days, EURCHF snaps its streak, falling 57 pips (-0.53%) over the past day to close at an exchange rate of 1.08381. Compared to its peers in the Forex, EURCHF gave its buyers a return that ranked 37th in terms of percentage change since the previous day. Let’s take a look at price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Notably, EURCHF crossed below its 100 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days EURCHF’s price has gone up 17 them.