EURCHF Down 4 Pips On Hourly Chart, Moves Up For the 2nd Day In A Row; Crosses 50 Day Moving Average

Hourly Update

(Last Updated February 15, 2021 23:18 GMT)

Currently, EURCHF’s rate is down -4 pips (-0.04%) from the hour prior. EURCHF has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 11 pips (0.1%) since yesterday (opening today near 1.08085), marking the 2nd day in a row an upward move has occurred. Compared to its peers in the Forex, EURCHF gave its buyers a return that ranked 14th in terms of percentage change since yesterday. The price chart of EURCHF below illustrates.

EURCHF

EURCHF Technical Analysis

Notably, EURCHF crossed above its 50 day moving average yesterday. 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 5.7 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 10 days EURCHF’s price has gone up 6 them. Also, candlestick traders! Note we see doji pattern appearing here as well.