EURCHF Down 2 Pips in Last Hour, Nears 20, 50 and 100 Day Moving Averages; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated January 15, 2021 3:19 GMT)

At the moment, EURCHF’s rate is down -2 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 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of EURCHF continues; to start today, it came in at a price of 1.07931, up 5 pips (0.05%) since yesterday. Compared to its peers in the Forex, EURCHF gave its buyers a return that ranked 17th in terms of percentage change since yesterday. Here is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Coming into today 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days EURCHF’s price has gone up 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURCHF; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Tell me what you guys see on this one!I personally think it could break that resistance at 1.086 till approximately 1.1200.