EURCHF Up 3 Pips Over Past Hour, Came Into Today Down For the 2nd Consecutive Day; Breaks Below 20 Day Average

Hourly Update

(Last Updated January 5, 2021 2:18 GMT)

At the moment, EURCHF’s rate is up 3 pips (0.03%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURCHF. Given that we see an uptrend on the 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURCHF is down 27 pips (0.25%) since the previous day (opening today near 1.07902), marking the 2nd consecutive day a decrease has occurred. Out of the 40 instruments in the Forex asset class, EURCHF ended up ranking 22nd for the day in terms of price change. Below is a price chart of EURCHF.

EURCHF

EURCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURCHF crossed below its 20 day moving average yesterday. For additional context, note that price has gone up 7 out of the past 14 days.