(Last Updated September 14, 2022 1:38 GMT)
At the moment, EURCHF’s rate is up 1 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 pin bar candlestick pattern on EURCHF. Given that we see downtrend on the 20 and 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 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 entered today at 0.95834, down 69 pips (0.71%) from the previous day. Out of the 39 instruments in the Forex asset class, EURCHF ended up ranking 27th for the day in terms of price change. The price chart of EURCHF below illustrates.
EURCHF Technical Analysis
Coming into today the current price of EURCHF is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 30 days EURCHF’s price has gone up 17 them.