EURCHF Down 1 Pips Over Past Hour, Entered Today Down For the 3rd Consecutive Day; Breaks Below 100 Day Average

Hourly Update

(Last Updated October 13, 2020 2:17 GMT)

At the moment, EURCHF’s rate is down -1 pips (-0.01%) 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 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURCHF. Given that we see downtrend 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 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)

EURCHF is down 21 pips (0.19%) since yesterday (opening today near 1.07333), marking the 3rd consecutive day it has gone down. Compared to its peers in the Forex, EURCHF gave its buyers a return that ranked 25th in terms of percentage change since yesterday. Here is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

First things first: EURCHF crossed below its 100 day moving average yesterday. 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. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. For additional context, note that price has gone down 17 out of the past 30 days.