EUR/CHF Up 2 Pips Over Past Hour, 5 Day Down Streak Broken; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated December 30, 2021 1:41 GMT)

At the time of this writing, EURCHF’s rate is up 2 pips (0.02%) from the hour prior. The hourly chart shows that EURCHF has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURCHF. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

After 5 down days, EURCHF snaps its streak, rising 5 pips (0.04%) over the past day to close at an exchange rate of 1.03801. 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

Coming into today EURCHF is now close to its 20, 50 and 100 day averages, located at 1.0408, 1.049 and 1.0643 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 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 7 out of the past 10 days.