EUR/CHF Up 5 Pips Over Past 4 Hours, Breaks Above 20 Day Average; Pin Bar Pattern Appearing on Chart

EUR/CHF 4 Hour Price Update

Updated June 30, 2020 09:12 PM GMT (05:12 PM EST)

After 4 down four-hour candles, EUR/CHF snaps its streak, rising 5 pips (0.05%) over the past four-hour candle to close at an exchange rate of 1.0644. Compared to its peers in the Forex, EUR/CHF gave its buyers a return that ranked 18th in terms of percentage change since the last 4 hour candle.

EUR/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/CHF is up 6 pips (0.06%) since the day prior (opening today near 1.06988), marking the 3rd day in a row an upward move has occurred. Out of the 40 instruments in the Forex asset class, EUR/CHF ended up ranking 21st for the day in terms of price change. The price chart of EUR/CHF below illustrates.

EUR/CHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EUR/CHF crossed above its 20 day moving average yesterday. 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 200 day average, which is 5.3 pips away. Volatility for EUR/CHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURCHF, with 11 buy signals on our radar and 15 sell signals. This imputes a buy/sell ratio of 0.73, which is bearish. As for the rationale, technical traders seem to be citing the appearance of channel and triangle technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Still too early. Dont see any tourn around in smaller time frames. However 4H we can see the break ouf of a consolidating triangle