EUR/CHF Price Recap
EUR/CHF is down 10 pips (0.09%) since yesterday (with its current price near 1.05569), marking the 2nd day in a row it has gone down. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 15.1% from the day prior, and up 8.55% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/CHF ranked 19th yesterday in terms of percentage price change. Let’s take a look at price chart of EUR/CHF.
EUR/CHF Technical Analysis
The first thing we should note is that EUR/CHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days EUR/CHF’s price has gone down 19 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.
The View From Around the Web
Of note is that traders in aggregate have opinions on EURCHF, with 8 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 2, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a divergence technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
SEE a lot of divergence … watching this falling wedge for possible break out