EUR/CHF Up 24 Pips On 4 Hour Chart, Entered Today Up For the 3rd Day In A Row; Nears 50 and 200 Day Moving Averages

EUR/CHF 4 Hour Price Update

Updated June 23, 2020 01:10 PM GMT (09:10 AM EST)

The back and forth price flow continues for EUR/CHF, which started the current 4 hour candle off at 1.0699, up 24 pips 0.22% from the last 4 hour candle. Relative to other instruments in the Forex asset class, EUR/CHF ranked 4th the last 4 hour candle in terms of percentage price change.

EUR/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/CHF is up 8 pips (0.07%) since the day prior (opening today near 1.06788), marking the 3rd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, EUR/CHF ranked 23rd the day prior in terms of percentage price change. Here is a price chart of EUR/CHF.

EUR/CHF Technical Analysis

Coming into today EUR/CHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 200 day average, which is 35.2 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone down 8 out of the past 14 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURCHF, with 18 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 9, which is very bullish. As for the rationale, technical traders seem to be citing the appearance of a divergence technical pattern. Here’s a piece we found on that we thought you might enjoy.