EUR/CHF Up 2 Pips On 4 Hour Chart; Nears 20 and 50 Day Moving Averages

EUR/CHF 4 Hour Price Update

Updated May 13, 2020 01:10 AM GMT (09:10 PM EST)

The choppiness in the recent four-hour candle price action of EUR/CHF continues; to start the current 4 hour candle, it came in at a price of 1.052, up 2 pips (0.02%) since the last 4 hour candle. Compared to its peers in the Forex, EUR/CHF gave its buyers a return that ranked 14th in terms of percentage change since the last 4 hour candle.

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 1.05206, up 5 pips (0.05%) since the previous day. Relative to other instruments in the Forex asset class, EUR/CHF ranked 17th the previous day in terms of percentage price change. Let’s take a look at price chart of EUR/CHF.

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 1.0534, 1.0549, 1.06 and 1.0764 respectively, and thus may be at a key juncture along those timeframes. 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 EUR/CHF’s price has gone down 16 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURCHF, with 3 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0.6, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a divergence technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Short-term, the negative momentum has gained further traction which has pushed the pair below 1.06, the low reached twice in 2016 and 2017….The RSI indicator has been forming a bullish divergence, suggesting the negative momentum is fading and that a rebound could occur….The past support at 1.0620 has become a resistance .A daily close below this level may triggerfurther decline towards 1.08.