EURCHF Up 1 Pips On Hourly Chart, Makes Big Move Relative to Past Two Months; Came Into Today Up For the 6th Consecutive Day

Hourly Update

(Last Updated February 25, 2021 0:19 GMT)

At the time of this writing, EURCHF’s rate is up 1 pips (0.01%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as EURCHF has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURCHF. Given that we see an uptrend on the 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EURCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURCHF is up 101 pips (0.93%) since the previous day (opening today near 1.0998), marking the 6th consecutive day it has gone up. Relative to other instruments in the Forex asset class, EURCHF ranked 9th the previous day in terms of percentage price change. Below is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Notably, EURCHF is now close to its 20, 50, 100 and 200 day averages, located at 1.0825, 1.0814, 1.079 and 1.0761 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days EURCHF’s price has gone up 10 them.