EURCHF Down 0 Pips On Hourly Chart, in a Downtrend Over Past 14 Days; is Inching Close to 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated October 15, 2020 2:16 GMT)

At the time of this writing, EURCHF’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 pin bar candlestick pattern on EURCHF. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

The choppiness in the recent daily price action of EURCHF continues; to start today, it came in at a price of 1.0728, down 13 pips (0.12%) since yesterday. Relative to other instruments in the Forex asset class, EURCHF ranked 30th yesterday 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, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 7 out of the past 10 days.