EURCHF Up 2 Pips in Last Hour, Moves Down For the 2nd Consecutive Day; Eyes 20 and 200 Day Averages

Hourly Update

(Last Updated June 10, 2021 7:18 GMT)

At the time of this writing, EURCHF’s rate is up 2 pips (0.01%) from the hour prior. EURCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURCHF is down 8 pips (0.07%) since the day prior (opening today near 1.09101), marking the 2nd consecutive day a decrease has occurred. Relative to other instruments in the Forex asset class, EURCHF ranked 21st the day prior in terms of percentage price change. Here is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Notably, EURCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 35.8 pips away. Trend traders will want to observe that the strongest trend appears on the 30 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 EURCHF’s price has gone down 8 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURCHF, with 6 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 1.2, which is neutral. Here’s a piece we found on tradingview.com that we thought you might enjoy.