EUR/CHF Down 1 Pips Over Past 4 Hours, 2 Day Down Streak Ended; Nears 50 Day Moving Average

EUR/CHF 4 Hour Price Update

Updated June 18, 2020 09:10 AM GMT (05:10 AM EST)

EUR/CHF entered the current 4 hour candle at 1.0679, down 1 pips (0.01%) from the previous 4 hours. Out of the 37 instruments in the Forex asset class, EUR/CHF ended up ranking 22nd for the four-hour candle in terms of price change.

EUR/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of EUR/CHF continues; to start today, it came in at a price of 1.06669, up 1 pips (0.01%) since the previous day. Relative to other instruments in the Forex asset class, EUR/CHF ranked 20th the previous day in terms of percentage price change. The price chart of EUR/CHF below illustrates.

EUR/CHF Technical Analysis

The first thing we should note is that EUR/CHF is now close to its 20, 50, 100 and 200 day averages, located at 1.0735, 1.0623, 1.0601 and 1.0721 respectively, and thus may be at a key juncture along those timeframes. 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 43.6 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 30 and 90 day timeframes, where price is headed up. 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 8 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 0.73, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

The best entry on this short opportunity is patience to wait for price to test the down trend channel resistance (making a new LH), that will give your the entry with low stop loss in number of pips.