(Last Updated January 14, 2021 2:18 GMT)
At the moment, EURCHF’s rate is up 4 pips (0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 doji 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 choppiness in price, as the 20, 50, 100 and 200 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)
The choppiness in the recent daily price action of EURCHF continues; to start today, it came in at a price of 1.07877, down 30 pips (0.28%) since yesterday. Relative to other instruments in the Forex asset class, EURCHF ranked 25th yesterday in terms of percentage price change. Below is a price chart of EURCHF.
EURCHF Technical Analysis
First things first: EURCHF crossed below its 20 and 50 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days EURCHF’s price has gone up 5 them.