EUR/CHF 4 Hour Price Update
Updated March 31, 2020 01:07 PM GMT (09:07 AM EST)
EUR/CHF entered the current 4 hour candle at 1.0583, down 9 pips (0.08%) from the previous 4 hours. Compared to its peers in the Forex, EUR/CHF gave its buyers a return that ranked 18th in terms of percentage change since the previous 4 hours.
EUR/CHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of EUR/CHF continues; to start today, it came in at a price of 1.0586, up 8 pips (0.07%) since the previous day. Out of the 40 instruments in the Forex asset class, EUR/CHF ended up ranking 20th for the day in terms of price change. Here is a price chart of EUR/CHF.
EUR/CHF Technical Analysis
Coming into today EUR/CHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 up 5 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
The View From Around the Web
Of note is that traders in aggregate have opinions on EURCHF, with 5 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 2.5, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel, pennant and relative strength index technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
https://www.tradingview.com/x/y7BFvoMR/hey guys,here is my trading plan for EURCHF!…you can see that we are back again below the key horizontal support,however, due to a positive reaction after a retest of the recently broken channel,my bias remains bullish….to safely trade this setup I suggest you wait until a bullish breakout of the underlined orange zoneand then buy the broken level on a retest.