EUR/CHF Up 1 Pips in Last Hour, Came Into Today Up For the 2nd Consecutive Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated January 7, 2022 1:39 GMT)

Currently, EURCHF’s rate is up 1 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 pin bar candlestick pattern on EURCHF. Given that we see an uptrend 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 up 31 pips (0.3%) since the day prior (opening today near 1.04082), marking the 2nd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, EURCHF ranked 14th the day prior in terms of percentage price change. Here is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

First things first: EURCHF crossed above its 20 day moving average yesterday. 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 19 out of the past 30 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURCHF, with 2 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

The pair is overall in a downtrend . Price is now reaching a major key level which is also a 4H Supply zone & showing signs of depletion . In today’s session I will be looking for a short-term selling opportunity around 0.040 level. Wait for the bears to take over then enter with confirmation!