EUR/CHF Down 0 Pips Over Past Hour, Came Into Today Up For the 7th Consecutive Day; Eyes 200 Day Average

Hourly Update

(Last Updated May 10, 2022 1:39 GMT)

At the time of this writing, EURCHF’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURCHF has now gone down 4 of the past 5 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 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 up 68 pips (0.65%) since the day prior (opening today near 1.04916), marking the 7th consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, EURCHF ranked 16th the day prior in terms of percentage price change. Here is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Coming into today EURCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 200 day average, which is 9.7 pips away. It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 30 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 10 days EURCHF’s price has gone up 7 them.