EUR/CHF Up 4 Pips On 4 Hour Chart, Crosses 100 Day Moving Average; Pin Bar Pattern Appearing on Chart

EUR/CHF 4 Hour Price Update

Updated May 25, 2020 09:08 PM GMT (05:08 PM EST)

The back and forth price flow continues for EUR/CHF, which started the current 4 hour candle off at 1.0584, up 4 pips 0.04% from the previous 4 hours. Out of the 37 instruments in the Forex asset class, EUR/CHF ended up ranking 11th for the four-hour candle in terms of price change.

EUR/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of EUR/CHF continues; to start today, it came in at a price of 1.05876, up 8 pips (0.08%) since the previous day. Compared to its peers in the Forex, EUR/CHF gave its buyers a return that ranked 8th in terms of percentage change since the previous day. Let’s take a look at price chart of EUR/CHF.

EUR/CHF Technical Analysis

First things first: EUR/CHF crossed above its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 10 days EUR/CHF’s price has gone up 5 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURCHF, with 10 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 1.67, which is bullish. As for the rationale, technical traders seem to be citing the appearance of double top and trendline technical patterns. Here’s a piece we found on; below is a short snippet from it to give you a taste.

EURCHF breached its last lower high and descending trendline impulsively….Price is making a pullback in wave (ii) after the strong breakout….Watch out for a bullish price action signal from the technical level to position for a massive rally in wave (iii).