EUR/CHF Down 1 Pips On Hourly Chart, 2 Day Up Streak Ended; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated January 5, 2022 1:41 GMT)

Currently, EURCHF’s rate is down -1 pips (-0.01%) from the hour prior. EURCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar 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 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)

The back and forth price flow continues for EURCHF, which started today off at 1.03401, down 39 pips 0.38% from the day prior. Relative to other instruments in the Forex asset class, EURCHF ranked 34th the day prior in terms of percentage price change. The price chart of EURCHF below illustrates.

EURCHF

EURCHF Technical Analysis

Coming into today the current price of EURCHF is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 7 out of the past 10 days.