EUR/CHF Up 1 Pips Over Past Hour, Eyes 20 Day Average; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated December 29, 2021 1:43 GMT)

Currently, EURCHF’s rate is up 1 pips (0.01%) from the hour prior. This is the 3rd consecutive hour EURCHF has seen its price head up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURCHF. Given that we see downtrend on the 20 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 choppiness in price, as the 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 down 16 pips (0.16%) since yesterday (opening today near 1.03755), marking the 5th consecutive day a decline has happened. Relative to other instruments in the Forex asset class, EURCHF ranked 25th yesterday in terms of percentage price change. Let’s take a look at price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Notably, EURCHF is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Volatility for EURCHF 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 down over that time. Or to simplify this another way, note that out of the past 14 days EURCHF’s price has gone down 11 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.