EUR/CHF Down 1 Pips On 4 Hour Chart, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

EUR/CHF 4 Hour Price Update

Updated May 21, 2020 12:45 AM GMT (08:45 PM EST)

EUR/CHF is down 1 pips (0.01%) since the last 4 hour candle (opening the current 4 hour candle near 1.0593), marking the 2nd candle in a row it has gone down. Out of the 37 instruments in the Forex asset class, EUR/CHF ended up ranking 23rd for the four-hour candle in terms of price change.

EUR/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EUR/CHF, which started today off at 1.05941, down 0 pips 0% from the day prior. Relative to other instruments in the Forex asset class, EUR/CHF ranked 27th the day prior in terms of percentage price change. Below is a price chart of EUR/CHF.

EUR/CHF Technical Analysis

Coming into today the current price of EUR/CHF 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. Trend traders will want to observe that the strongest trend appears on the 90 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 EUR/CHF’s price has gone down 5 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURCHF; just 2 sell signals and 2 buy signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of channel and elliott wave technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

As the price went back into the channel, we will try some shorts here.. Good RR