EUR/CHF Down 1 Pips Over Past Hour; Entered Today Up For the 6th Consecutive Day

Hourly Update

(Last Updated May 9, 2022 1:38 GMT)

At the time of this writing, EURCHF’s rate is down -1 pips (-0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURCHF has now gone down 4 of the past 5 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 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 is up 35 pips (0.34%) since the day prior (opening today near 1.04238), marking the 6th consecutive day it has gone up. Relative to other instruments in the Forex asset class, EURCHF ranked 9th the day prior in terms of percentage 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 averages, located at 1.0257, 1.0239, 1.0333 and 1.0503 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 200 day average, which is 78.8 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 90 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 30 day timeframe. Or to simplify this another way, note that out of the past 30 days EURCHF’s price has gone up 17 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURCHF; just 0 sell signals and 1 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

https://www.tradingview.com/u/mahdiomidi/xhq1HbiD 180 pip in profit :))And now it can complete this wave like thisprice can move down to 1.0314 – 1.0352 at firstthen we will open the long position. the targets and details is in the picture.