EURCHF Down 4 Pips in Last Hour, in a Downtrend Over Past 14 Days; is Inching Close to 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated October 21, 2020 10:17 GMT)

At the time of this writing, EURCHF’s rate is down -4 pips (-0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURCHF has now gone down 5 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 1.0722, up 16 pips (0.15%) from yesterday. Relative to other instruments in the Forex asset class, EURCHF ranked 15th yesterday in terms of percentage price change. Here is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Notably, the current price of EURCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 100 day average, which is 20.6 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. 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. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 14 days EURCHF’s price has gone down 9 them.