EURCHF Down 0 Pips On Hourly Chart; Moves Up For the 4th Straight Day
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
(Last Updated March 4, 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:
metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
---|---|---|---|---|---|---|---|
Euro Area Unemployment Rate | Jan 2021 | Euro | EUR | 2021-03-04 | 10:00 GMT | 8.3% | 8.1% |
Euro Area Retail Sales YoY | Jan 2021 | Euro | EUR | 2021-03-04 | 10:00 GMT | -1.2% | -6.4% |
Euro Area Retail Sales MoM | Jan 2021 | Euro | EUR | 2021-03-04 | 10:00 GMT | -1.1% | -5.9% |
If we observe the 90, 30 and 14 day timeframes, we see an uptrend in place for EURCHF.
EURCHF’s moving averages suggest the trend on a number of time horizons is bullish.
The chart below illustrates.
In terms of correlations over the past week for EURCHF, it has demonstrated the strongest correlation with AUDNZD. Over the past 14 days, however, CADCHF is the asset most correlated to EURCHF. Alternatively, the asset least correlated with EURCHF over the past week has been EURTRY, but if we observe the prior two weeks, the asset least correlated with EURCHF has been GBPCAD. See the chart below to observe the recent price action in EURCHF versus those of assets it hasn’t been well correlated with.
.
At the time of this writing, EURCHF’s rate is up 118 pips (1.07%) from the week prior. EURCHF has seen its price go up 4 out of the past 5 weeks, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. 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. EURCHF’s weekly price action over the past 52 weeks can be seen via the chart below.
Clearest trend on the monthly is apparent at the 120 month timeframe.
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
The closest is the 50 day average, which is 29.9 pips away.
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Price action traders in particular will want to note that the 14 and 30 day periods appears to show price forming a base; this could indicate that a support/resistance level is developing.
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.
Compared to its peers in the forex, eurchf gave its buyers a return that ranked 14th in terms of percentage change since yesterday.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
The closest is the 50 day average, which is 8.2 pips away.
The closest is the 50 day average, which is 25 pips away.
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.