EURCHF Up 1 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Crosses 20 and 50 Day Moving Averages

Hourly Update

(Last Updated October 12, 2020 2:17 GMT)

At the moment, EURCHF’s rate is up 1 pips (0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURCHF has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 26 pips (0.24%) since the day prior (opening today near 1.07538), marking the 2nd day in a row it has gone down. Out of the 40 instruments in the Forex asset class, EURCHF ended up ranking 24th for the day in terms of price change. Below is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURCHF crossed below its 20 and 50 day moving averages yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days EURCHF’s price has gone down 7 them.