(Last Updated October 15, 2021 23:16 GMT)
At the moment, EURCHF’s rate is down -5 pips (-0.05%) 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 trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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 3 pips (0.02%) since yesterday (opening today near 1.07133), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, EURCHF ranked 22nd yesterday in terms of percentage price change. The price chart of EURCHF below illustrates.
EURCHF Technical Analysis
Coming into today EURCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 15 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.