EURCHF Down 3 Pips in Last Hour, Moves Up For the 3rd Straight Day; is Inching Close to 20 Day Average

Hourly Update

(Last Updated January 8, 2021 3:18 GMT)

At the moment, EURCHF’s rate is down -3 pips (-0.03%) from the hour prior. EURCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Of note is that the 200 hour changed directions on EURCHF; it is now pointing up. 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 28 pips (0.25%) since the day prior (opening today near 1.08507), marking the 3rd straight day an increase has occurred. Compared to its peers in the Forex, EURCHF gave its buyers a return that ranked 17th in terms of percentage change since the day prior. Let’s take a look at 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. Or to simplify this another way, note that out of the past 10 days EURCHF’s price has gone up 7 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURCHF, with 8 buy signals on our radar and 0 sell signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Welcome to our weekly trade setup ( EURCHF )!-1 HOURBullish pressure and closure above main sr level.4 HOUROverall sideways moving market structure.DAILYExpecting another push towards previous highs.-FOREX SWINGBUY EURCHFENTRY LEVEL @ 1.08340SL @ 1.08030TP @ 1.08810Max Risk: 0.5% – 1%!(Remember to add a few pips to all levels – different Brokers!)Leave us a comment or like to keep our content for free and alive.Have a great week everyone!ALAN