EUR/CHF Up 8 Pips in Last Hour, Moves Down For the 2nd Consecutive Day; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated September 22, 2022 1:38 GMT)

Currently, EURCHF’s rate is up 8 pips (0.08%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURCHF has now gone down 4 of the past 5 hours. 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)

EURCHF is down 108 pips (1.12%) since the previous day (opening today near 0.9507), marking the 2nd consecutive day a decrease has occurred. Relative to other instruments in the Forex asset class, EURCHF ranked 35th the previous day in terms of percentage price change. The price chart of EURCHF below illustrates.

EURCHF

EURCHF Technical Analysis

The first thing we should note is that the current price of EURCHF is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days EURCHF’s price has gone up 17 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURCHF; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

This Is An Educational + Analytic Content That Will Teach Why And How To Enter A TradeMake Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our MethodDisclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.