EUR/CHF Down 10 Pips in Last Hour, Moves Up For the 2nd Consecutive Day; is Inching Close to 20 Day Average

Hourly Update

(Last Updated August 5, 2022 1:40 GMT)

At the moment, EURCHF’s rate is down -10 pips (-0.1%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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 19 pips (0.19%) since yesterday (opening today near 0.9783), marking the 2nd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, EURCHF ranked 16th yesterday in terms of percentage price change. Below is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Notably, EURCHF is now close to its 20 day averages, located at 0.9825 respectively, and thus may be at a key juncture along those timeframes. 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. For additional context, note that price has gone down 7 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURCHF; just 0 sell signals and 2 buy signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s take that with a grain of salt. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Bearing on eurchf i think this should also go down