EURCHF Down 1 Pips in Last Hour, in a Downtrend Over Past 30 Days; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated May 28, 2021 1:19 GMT)

Currently, EURCHF’s rate is down -1 pips (-0.01%) from the hour prior. EURCHF has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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)

EURCHF entered today at 1.09449, down 24 pips (0.22%) from the previous day. Compared to its peers in the Forex, EURCHF gave its buyers a return that ranked 30th in terms of percentage change since the previous day. Let’s take a look at price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

First things first: EURCHF crossed below its 100 day moving average yesterday. 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 100 day average, which is 6.2 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Also of note is that on a 14 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 14 days EURCHF’s price has gone up 7 them. Also, candlestick traders! Note we see doji pattern appearing here as well.