EUR/CHF Up 11 Pips Over Past 4 Hours, 3 Day Down Streak Snapped; Nears 50 and 100 Day Moving Averages

EUR/CHF 4 Hour Price Update

Updated June 29, 2020 09:10 PM GMT (05:10 PM EST)

EUR/CHF is up 11 pips (0.1%) since the last 4 hour candle (opening the current 4 hour candle near 1.0691), marking the 6th candle in a row an upward move has occurred. Relative to other instruments in the Forex asset class, EUR/CHF ranked 11th the last 4 hour candle in terms of percentage price change.

EUR/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 3 down days, EUR/CHF snaps its streak, rising 5 pips (0.04%) over the past day to close at an exchange rate of 1.06353. Compared to its peers in the Forex, EUR/CHF gave its buyers a return that ranked 16th in terms of percentage change since yesterday. Here is a price chart of EUR/CHF.

EUR/CHF Technical Analysis

Notably, the current price of EUR/CHF 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. 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 5 pips away. 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. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 6 out of the past 10 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURCHF, with 9 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a wedge technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Breaking the resistance line with the further retest place the pair in a clear bullish bias….S/L: 23 pips – R:R | 1:2 -T/P: target next resistance level –*** If you like the idea, don’t be shy, click on like and comment….If you do not agree, just comment 😉 | Thanks for your support!!!