EUR/CHF Down 11 Pips in Last 4 Hours, Eyes 50 and 200 Day Averages; Pin Bar Pattern Appearing on Chart

EUR/CHF 4 Hour Price Update

Updated June 25, 2020 01:15 PM GMT (09:15 AM EST)

EUR/CHF is down 11 pips (0.1%) since the last 4 hour candle (opening the current 4 hour candle near 1.0641), marking the 2nd candle in a row a decline has happened. Out of the 37 instruments in the Forex asset class, EUR/CHF ended up ranking 27th for the four-hour candle in terms of price change.

EUR/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/CHF entered today at 1.06673, up 2 pips (0.02%) from the previous day. Compared to its peers in the Forex, EUR/CHF gave its buyers a return that ranked 17th in terms of percentage change since the previous day. Here is a price chart of EUR/CHF.

EUR/CHF Technical Analysis

The first thing we should note is that the current price of EUR/CHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 50 day average, which is 28.6 pips away. Volatility for EUR/CHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days EUR/CHF’s price has gone up 17 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on EURCHF, with 10 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of flag, trendline, triangle and wedge technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

The EUR/CHF is moving in the Ascending triangle. After the bounce from the Uptrend line the pair got in touch with the Support/Resistance zone and the latter proved its reliability. Another fall and pullback is expected.