EUR/CHF Price Recap
The back and forth price flow continues for EUR/CHF, which starts today off at 1.09824 US dollars, up 0.09% from the previous day. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 5.34% from the day prior, but up 9.5% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/CHF ranked 7th yesterday in terms of percentage price change. Let’s take a look at price chart of EUR/CHF.
EUR/CHF Technical Analysis
Moving average crossovers are always interesting, so let’s start there: EUR/CHF crossed above its 20 day moving average yesterday. Volatility for EUR/CHF has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days EUR/CHF’s price has gone up 14 them. Also, candlestick traders! Note we see a pin bar pattern forming on the pair.