EUR/CHF Makes Big Move Relative to Two Week Trend, Up 14 Pips; Nears 20 Day Moving 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 upward move 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. Let’s take a look at price chart of EUR/CHF.

EUR/CHF Technical Analysis

The first thing we should note is that EUR/CHF is now close to its 20, 50 and 100 day averages, located at 1.0648, 1.0737 and 1.0857 respectively, and thus may be at a key juncture along those timeframes. 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 down over that time. Or to simplify this another way, note that out of the past 10 days EUR/CHF’s price has gone up 5 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURCHF, with 16 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 3.2, which is bullish. As for the rationale, technical traders seem to be citing the appearance of divergence, fibonacci, trendline and wedge technical patterns. Here’s a piece we found on that we thought you might enjoy.