(Last Updated April 8, 2021 3:18 GMT)
At the moment, EURCHF’s rate is down -2 pips (-0.01%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURCHF has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 is down 17 pips (0.16%) since the previous day (opening today near 1.10342), marking the 3rd consecutive day it has gone down. 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 Technical Analysis
Notably, EURCHF is now close to its 20, 50, 100 and 200 day averages, located at 1.1059, 1.0971, 1.0888 and 1.0819 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 5 out of the past 10 days.