(Last Updated October 19, 2020 10:16 GMT)
At the moment, EURCHF’s rate is down -1 pips (-0.01%) from the hour prior. The hourly chart shows that EURCHF has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 20 hour changed directions on EURCHF; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 choppiness in the recent daily price action of EURCHF continues; to start today, it came in at a price of 1.07111, up 10 pips (0.09%) since yesterday. Compared to its peers in the Forex, EURCHF gave its buyers a return that ranked 10th in terms of percentage change since yesterday. The price chart of EURCHF below illustrates.
EURCHF Technical Analysis
Coming into today EURCHF is now close to its 20, 50, 100 and 200 day averages, located at 1.0766, 1.0769, 1.0743 and 1.0676 respectively, and thus may be at a key juncture along those timeframes. 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 31.7 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days EURCHF’s price has gone down 9 them.