EURCHF Up 2 Pips On Hourly Chart, Eyes 20, 50 and 100 Day Averages; Pin Bar Pattern Appearing on Chart
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
EURCHF
(Last Updated January 12, 2021)
Hello! This is the news page for EURCHF. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for EURCHF
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Euro Area ECB President Lagarde Speech | NA | Euro | EUR | 2021-01-13 | 09:00 GMT | ||
| Euro Area Industrial Production MoM | Nov 2020 | Euro | EUR | 2021-01-13 | 10:00 GMT | 0.2% | |
| Euro Area Industrial Production YoY | Nov 2020 | Euro | EUR | 2021-01-13 | 10:00 GMT | -3.3% | |
| Euro Area ECB Monetary Policy Meeting Accounts | NA | Euro | EUR | 2021-01-14 | 12:30 GMT | ||
| Euro Area Balance of Trade | Nov 2020 | Euro | EUR | 2021-01-15 | 10:00 GMT | €26B |
The Trend
On EURCHF, we don’t see a clear trend until the 90 day basis, where we see a very slight uptrend.
EURCHF Moving Averages
Across several time periods between 20 and 200 days, the trend on EURCHF has remained consistently bullish. Moreover, today we saw the 100 moving average turn bullish.
Below is a chart showing EURCHF’s price with its moving averages.
As for assets in the Forex asset class EURCHF has been correlated to over the past week, it has demonstrated the strongest correlation with TRYJPY. Over the past 14 days, however, the asset showing the strongest correlation to EURCHF is USDJPY. On the flip side, the asset least correlated with EURCHF over the past week has been USDHKD, but if we observe the prior two weeks, the asset least correlated with EURCHF has been CADJPY. See the chart below to observe the recent price action in EURCHF versus those of assets it hasn’t been well correlated with.
.
The View From the Weekly Timeframe
At the moment, EURCHF’s rate is down 0 pips (0%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly 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. The weekly chart below shows EURCHF’s price action over the past year.
EURCHF: The Monthly View
Monthly trend: strongest on the 120 month timeframe.
EURCHF Down 2 Pips in Last Hour, Nears 20, 50 and 100 Day Moving Averages; Pin Bar Pattern Appearing on Chart
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
EURCHF Up 4 Pips Over Past Hour; Crosses 20 and 50 Day Moving Averages
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
EURCHF Up 2 Pips in Last Hour, Nears 20, 50 and 100 Day Moving Averages; Pin Bar Pattern Appearing on Chart
Or to simplify this another way, note that out of the past 14 days eurchf’s price has gone up 8 them.
EURCHF Up 5 Pips in Last Hour, Sentiment Strongly Favors Sellers; is Inching Close to 20, 50 and 100 Day Averages
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
EURCHF Down 3 Pips in Last Hour, Moves Up For the 3rd Straight Day; is Inching Close to 20 Day Average
Bulls may note that this suggests a buy/sell ratio that is infinite.
EURCHF Down 2 Pips in Last Hour, Came Into Today Up For the 2nd Straight Day; Crosses 20 Day Moving Average
Compared to its peers in the forex, eurchf gave its buyers a return that ranked 16th in terms of percentage change since the previous day.
EURCHF Up 4 Pips On Hourly Chart, Entered Today Down For the 2nd Day In A Row; Crosses 20 Day Moving Average
This is the 2nd consecutive hour eurchf has seen its price head up.
EURCHF Up 3 Pips Over Past Hour, Came Into Today Down For the 2nd Consecutive Day; Breaks Below 20 Day Average
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.
EURCHF Down 2 Pips in Last Hour, in an Uptrend Over Past 14 Days; Eyes 20, 50 and 100 Day Averages
It’s been a feast for bears operating on an hourly timeframe, as eurchf has now gone down 4 of the past 5 hours.