(Last Updated January 14, 2022 1:41 GMT)
Currently, EURCHF’s rate is up 3 pips (0.03%) from the hour prior. EURCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 downtrend 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)
EURCHF is down 21 pips (0.2%) since yesterday (opening today near 1.04381), marking the 3rd consecutive day a decline has happened. Out of the 39 instruments in the Forex asset class, EURCHF ended up ranking 25th for the day in terms of price change. Below is a price chart of EURCHF.
EURCHF Technical Analysis
First things first: EURCHF crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up. Price action traders in particular will want to note that the 30 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 up 7 out of the past 14 days.