EUR/CHF Down 1 Pips On Hourly Chart, 4 Day Up Streak Snapped; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated January 12, 2022 1:39 GMT)

At the time of this writing, EURCHF’s rate is down -1 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend 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)

A moment of silence, please, for the end of EURCHF’s 4 day up streak; price ended the day prior down 7 pips (-0.06%) to finish the day at a rate of 1.04992. Out of the 39 instruments in the Forex asset class, EURCHF ended up ranking 25th for the day in terms of price change. The price chart of EURCHF below illustrates.

EURCHF

EURCHF Technical Analysis

Notably, EURCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days EURCHF’s price has gone up 7 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.