(Last Updated June 17, 2022 1:38 GMT)
At the moment, EURCHF’s rate is down -2 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 down 188 pips (1.81%) since the day prior (opening today near 1.0194), marking the 2nd straight day it has gone down. Out of the 39 instruments in the Forex asset class, EURCHF ended up ranking 35th for the day in terms of price change. Here is a price chart of EURCHF.
EURCHF Technical Analysis
Notably, EURCHF crossed below its 20, 50 and 100 day moving averages yesterday. 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 50 day average, which is 123.5 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. For additional context, note that price has gone up 15 out of the past 30 days.