EUR/CHF Down 4 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart

EUR/CHF 4 Hour Price Update

Updated July 01, 2020 01:06 AM GMT (09:06 PM EST)

EUR/CHF entered the current 4 hour candle at 1.064, down 4 pips (0.04%) from the previous 4 hours. Compared to its peers in the Forex, EUR/CHF gave its buyers a return that ranked 30th in terms of percentage change since the previous 4 hours.

EUR/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/CHF, which opened today priced near 1.0639, is down 60 pips 0.56% since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. Out of the 40 instruments in the Forex asset class, EUR/CHF ended up ranking 36th for the day in terms of price change. Below is a price chart of EUR/CHF.

EUR/CHF Technical Analysis

Notably, EUR/CHF crossed below its 20 and 50 day moving averages yesterday. 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 50 day average, which is 9.8 pips away. Volatility for EUR/CHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. For additional context, note that price has gone down 8 out of the past 14 days. 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 3 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 0.3, which is bearish. 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.

As the price landed back on the support, we see a breakout on the trendline, then a pullback. The volumes were increasing as the price was decreasing down to the support. It may be a good time to try some longs here.Entry: 1.06400SL: 1.06200