EURCHF Up 2 Pips Over Past Hour, Moves Down For the 3rd Straight Day; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated July 29, 2021 11:19 GMT)

Currently, EURCHF’s rate is up 2 pips (0.02%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as EURCHF has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 31 pips (0.29%) since the previous day (opening today near 1.0777), marking the 3rd straight day a decline has happened. Compared to its peers in the Forex, EURCHF gave its buyers a return that ranked 27th in terms of percentage change since the previous day. Below is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

The first thing we should note is that 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 79 pips away. Volatility for EURCHF 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 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days EURCHF’s price has gone down 6 them.