EUR/CHF Down 6 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Entered Today Down For the 2nd Day In A Row

Hourly Update

(Last Updated December 20, 2021 1:38 GMT)

Currently, EURCHF’s rate is down -6 pips (-0.06%) 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. 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 doji candlestick pattern on EURCHF. Given that we see downtrend on the 20 and 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 down 25 pips (0.24%) since yesterday (opening today near 1.03855), marking the 2nd day in a row a decrease has occurred. Out of the 39 instruments in the Forex asset class, EURCHF ended up ranking 28th for the day in terms of price change. Here is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Notably, EURCHF is now close to its 20 and 50 day averages, located at 1.0431 and 1.0542 respectively, and thus may be at a key juncture along those timeframes. Volatility for EURCHF 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 down over that time. For additional context, note that price has gone down 10 out of the past 14 days.