EUR/CHF Down 0 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; Eyes 20, 50 and 100 Day Averages

EUR/CHF 4 Hour Price Update

Updated July 02, 2020 01:17 AM GMT (09:17 PM EST)

The back and forth price flow continues for EUR/CHF, which started the current 4 hour candle off at 1.0641, down 0 pips 0% from the previous 4 hours. Compared to its peers in the Forex, EUR/CHF gave its buyers a return that ranked 12th in terms of percentage change since the previous 4 hours.

EUR/CHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/CHF entered today at 1.06427, up 3 pips (0.02%) from the previous day. Compared to its peers in the Forex, EUR/CHF gave its buyers a return that ranked 15th in terms of percentage change since the previous day. Here is a price chart of EUR/CHF.

EUR/CHF Technical Analysis

The first thing we should note is that EUR/CHF is now close to its 20, 50, 100 and 200 day averages, located at 1.0672, 1.065, 1.0603 and 1.0701 respectively, and thus may be at a key juncture along those timeframes. 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 50 day average, which is 7 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone up 5 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

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 8 sell signals. This imputes a buy/sell ratio of 1.38, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

There’s no little profit. I expect to reach 1.0675 in the next few hours for 35 pips profit on EURCHF. The price evolve in a descending channel H4 and has bounced on the bottom line earlier today.