EURCHF Down 0 Pips Over Past Hour, 2 Day Down Streak Snapped; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated October 27, 2020 2:16 GMT)

At the time of this writing, EURCHF’s rate is down 0 pips (0%) from the hour prior. The hourly chart shows that EURCHF has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 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)

EURCHF entered today at 1.07201, up 5 pips (0.04%) from yesterday. Out of the 40 instruments in the Forex asset class, EURCHF ended up ranking 19th for the day in terms of price change. Let’s take a look at price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

The first thing we should note is that the current price of EURCHF 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. 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 18.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. 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 30 days EURCHF’s price has gone down 17 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.