EURCHF Down 2 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Moves Up For the 2nd Day In A Row

Hourly Update

(Last Updated June 1, 2021 2:18 GMT)

At the time of this writing, EURCHF’s rate is down -2 pips (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 up 21 pips (0.19%) since the day prior (opening today near 1.09887), marking the 2nd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, EURCHF ranked 10th the day prior in terms of percentage price change. Here is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

The first thing we should note is that the current price of EURCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 18.7 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 30 days EURCHF’s price has gone down 16 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURCHF, with 4 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0.8, which is neutral. Here’s a piece we found on tradingview.com that we thought you might enjoy.