EUR/CHF Makes Big Move Relative to Two Week Trend, Up 14 Pips; Eyes 20 Day Average

EUR/CHF Price Recap

EUR/CHF is up 14 pips (0.13%) since yesterday (with its current price near 1.06418), marking the 2nd day in a row an increase has occurred. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 11.2% from the day prior, and up 129.15% 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. The price chart of EUR/CHF below illustrates.

EUR/CHF Technical Analysis

Notably, EUR/CHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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. 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 9 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURCHF, with 11 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 2.75, which is bullish. As for the rationale, technical traders seem to be citing the appearance of divergence and fibonacci technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

remember the buyregular buy divergence on the daily, LONG BUY