(Last Updated January 4, 2021 2:18 GMT)
At the time of this writing, EURCHF’s rate is down -2 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURCHF has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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)
EURCHF entered today at 1.08177, down 18 pips (0.17%) from the previous day. Compared to its peers in the Forex, EURCHF gave its buyers a return that ranked 29th in terms of percentage change since the previous day. Let’s take a look at price chart of EURCHF.
EURCHF Technical Analysis
The first thing we should note is that the current price of EURCHF 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. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days EURCHF’s price has gone up 15 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.