EURCHF Up 3 Pips in Last Hour, 2 Day Up Streak Snapped; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated June 2, 2021 2:18 GMT)

Currently, EURCHF’s rate is up 3 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, so that price is now turning above 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 1.09609, down 28 pips (0.25%) from the day prior. Compared to its peers in the Forex, EURCHF gave its buyers a return that ranked 29th in terms of percentage change since the day prior. Let’s take a look at price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURCHF crossed below its 20 day moving average yesterday. 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 20 day average, which is 0.5 pips away. The clearest trend exists on the 30 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. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 17 out of the past 30 days.