EURCHF Up 1 Pips in Last Hour, Moves Up For the 3rd Straight Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated July 19, 2021 6:16 GMT)

At the time of this writing, EURCHF’s rate is up 1 pips (0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURCHF has now gone down 8 of the past 10 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURCHF. Given that we see downtrend on the 10 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 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 15 pips (0.14%) since yesterday (opening today near 1.0856), marking the 3rd straight day it has gone up. Out of the 39 instruments in the Forex asset class, EURCHF ended up ranking 15th for the day in terms of price change. Let’s take a look at price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

The first thing we should note is that EURCHF is now close to its 20, 50, 100 and 200 day averages, located at 1.0912, 1.0931, 1.0986 and 1.0891 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 35.1 pips away. Trend traders will want to observe that the strongest trend appears on the 14 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 EURCHF’s price has gone down 7 them.