EUR/CHF Up 3 Pips On Hourly Chart, Eyes 20 and 50 Day Averages; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated April 29, 2022 1:41 GMT)

Currently, EURCHF’s rate is up 3 pips (0.03%) 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 50 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 is down 12 pips (0.12%) since the day prior (opening today near 1.02108), marking the 4th 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. Let’s take a look at price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Notably, the current price of EURCHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days EURCHF’s price has gone down 6 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on EURCHF, with 7 buy signals on our radar and 0 sell signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

a bullish movement is expected after the analysis on the daily tf showed price rejecting at discount and a bullish iof imminent