EUR/CHF Up 3 Pips On Hourly Chart, Moves Down For the 3rd Consecutive Day; is Inching Close to 20 Day Average

Hourly Update

(Last Updated December 27, 2021 1:38 GMT)

Currently, EURCHF’s rate is up 3 pips (0.03%) from the hour prior. This is the 2nd hour in a row EURCHF has seen its price head up. 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 4 pips (0.03%) since the day prior (opening today near 1.0401), marking the 3rd consecutive day a decrease has occurred. Out of the 39 instruments in the Forex asset class, EURCHF ended up ranking 18th for the day in terms of price change. The price chart of EURCHF below illustrates.

EURCHF

EURCHF Technical Analysis

The first thing we should note is that EURCHF is now close to its 20, 50 and 100 day averages, located at 1.0414, 1.0511 and 1.0656 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. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 10 out of the past 14 days.