EURCHF Up 3 Pips On Hourly Chart, Came Into Today Up For the 2nd Day In A Row; Crosses 100 Day Moving Average

Hourly Update

(Last Updated September 8, 2021 12:17 GMT)

At the time of this writing, EURCHF’s rate is up 3 pips (0.03%) from the hour prior. This is the 3rd consecutive hour EURCHF has seen its price head 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 up 25 pips (0.23%) since the previous day (opening today near 1.08894), marking the 2nd day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, EURCHF ended up ranking 15th for the day in terms of price change. The price chart of EURCHF below illustrates.

EURCHF

EURCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURCHF crossed above its 100 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days EURCHF’s price has gone up 7 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURCHF; just 3 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.

https://www.tradingview.com/x/zCCHpIMw/Hello,Friends!Based on the technical analysis, and the recent minor fundamental news EURCHF looks bearish to me overall.I think marketmakers will be pushing the pair downThat is why we are going shortLike and subscribe and comment my ideas if you like them!