As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern.
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.
For additional context, note that price has gone down 16 out of the past 30 days.
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
Relative to other instruments in the forex asset class, eur/chf ranked 17th yesterday in terms of percentage price change.
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
This imputes a buy/sell ratio of 2, which is bullish.
In addition to the moving average crossover, eur/chf may have broken its trend on the 14 day basis, as the trend’s momentum appears to be slowing down.
Relative to other instruments in the forex asset class, eur/chf ranked 11th the day prior in terms of percentage price change.