(Last Updated May 2, 2022 1:38 GMT)
Currently, EURCHF’s rate is up 3 pips (0.03%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as EURCHF has now gone up 8 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 20 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, which opened today priced near 1.0264, is up 53 pips 0.52% since the previous day, marking a reversal from the day prior — and the end of a 4 day negative run. Compared to its peers in the Forex, EURCHF gave its buyers a return that ranked 11th in terms of percentage change since the previous day. Below is a price chart of EURCHF.
EURCHF Technical Analysis
Moving average crossovers are always interesting, so let’s start there: EURCHF crossed above its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. 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. Or to simplify this another way, note that out of the past 14 days EURCHF’s price has gone up 7 them.