EUR/CHF Up 6 Pips in Last Hour, 4 Day Down Streak Snapped; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated December 16, 2021 1:40 GMT)

At the moment, EURCHF’s rate is up 6 pips (0.06%) from the hour prior. EURCHF has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. 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)

A moment of silence, please, for the end of EURCHF’s 4 day down streak; price ended the day prior up 34 pips (0.32%) to finish the day at a rate of 1.0438. Relative to other instruments in the Forex asset class, EURCHF ranked 17th the day prior in terms of percentage price change. Below is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Coming into today the current price of EURCHF is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for EURCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. 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. For additional context, note that price has gone down 10 out of the past 14 days.

The View From Around the Web

Not much commentary on EURCHF that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

hello investors and Trader following a rigorous analysis I expect this scenario🕵️‍♂️🕵️‍♂️🕵️‍♂️