(Last Updated January 18, 2021 1:18 GMT)
At the time of this writing, EURCHF’s rate is up 10 pips (0.09%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURCHF. Given that we see downtrend 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
EURCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of EURCHF continues; to start today, it came in at a price of 1.07931, up 5 pips (0.05%) since the day prior. Compared to its peers in the Forex, EURCHF gave its buyers a return that ranked 17th in terms of percentage change since the day prior. Here is a price chart of EURCHF.
EURCHF Technical Analysis
Notably, EURCHF is now close to its 20, 50, 100 and 200 day averages, located at 1.082, 1.08, 1.0778 and 1.0719 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days EURCHF’s price has gone up 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!