EUR/CHF Down 4 Pips, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

EUR/CHF Price Recap

EUR/CHF enters today at 1.06189 in US dollars, down 4 pips (0.04%) from the day prior. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 11.24% from the day prior, and up 127.51% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/CHF ranked 21st yesterday in terms of percentage price change. Let’s take a look at price chart of EUR/CHF.

EUR/CHF Technical Analysis

Notably, EUR/CHF is now close to its 20, 50 and 100 day averages, located at 1.0655, 1.0749 and 1.0862 respectively, and thus may be at a key juncture along those timeframes. In addition to the moving average crossover, EUR/CHF’s momentum/trend on a 14 day basis may be decelerating. Volatility for EUR/CHF has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days EUR/CHF’s price has gone down 11 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURCHF, with 29 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 2.9, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on; below is a short snippet from it to give you a taste.

As we had annoused before to update EURCHF in lower timeframe in form of trade strategy with low capital exposure , this chart is our idea ….Huge divergence and bull reversal in stochastic indicator in the nice reversal zone in term of elliottwave made us enter a long trade….follow us for get update on this idea and other trading ideas:)