EUR/CHF Up 2 Pips in Last Hour, in a Downtrend Over Past 30 Days; Social Sentiment Biased Towards Selling

Hourly Update

(Last Updated November 23, 2021 1:39 GMT)

At the time of this writing, EURCHF’s rate is up 2 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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 1.04825, up 5 pips (0.04%) from yesterday. Out of the 39 instruments in the Forex asset class, EURCHF ended up ranking 24th for the day in terms of price change. Below is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Notably, EURCHF is now close to its 20, 50 and 100 day averages, located at 1.0559, 1.0691 and 1.0749 respectively, and thus may be at a key juncture along those timeframes. Volatility for EURCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days EURCHF’s price has gone down 8 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURCHF; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Can see a head and shoulders pattern on the weekly chart. Can expect to go bearish