EUR/CHF 4 Hour Price Update
Updated May 21, 2020 05:05 PM GMT (01:05 PM EST)
EUR/CHF is up 2 pips (0.02%) since the last 4 hour candle (opening the current 4 hour candle near 1.0628), marking the 3rd candle in a row it has gone up. Compared to its peers in the Forex, EUR/CHF gave its buyers a return that ranked 13th in terms of percentage change since the last 4 hour candle.
EUR/CHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of EUR/CHF continues; to start today, it came in at a price of 1.05941, down 0 pips (0%) since yesterday. Compared to its peers in the Forex, EUR/CHF gave its buyers a return that ranked 27th in terms of percentage change since yesterday. Let’s take a look at price chart of EUR/CHF.
EUR/CHF Technical Analysis
The first thing we should note is that 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. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 7 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.
The View From Around the Web
Of note is that traders in aggregate have opinions on EURCHF, with 8 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 2, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Price retraced and hit the support of fib retracement 38.2% for a possible upward trend as confirmed on our chart. Observing the window below is our seasonality indicator highlighting an exact entry in sync with our fib retracement support level. Enter a long position with the entries given.