EURCHF Up 1 Pips Over Past Hour, Came Into Today Up For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 3, 2021 2:16 GMT)

At the moment, EURCHF’s rate is up 1 pips (0.01%) from the hour prior. The hourly chart shows that EURCHF has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 20 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EURCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURCHF is up 16 pips (0.15%) since the day prior (opening today near 1.08571), marking the 2nd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, EURCHF ranked 14th the day prior in terms of percentage price change. Here is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Notably, 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. 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. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 10 days EURCHF’s price has gone up 6 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURCHF, with 0 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

https://www.tradingview.com/x/bC0fw7NE/Hello,Friends!In this market situation, I am looking at mutiple indicators And I can see bearish momentum accumulating on the pair right nowThis setiment makes me bearish biased and I am considering a shortLike and subscribe and comment my ideas if you like them!