USD/CHF Down 12 Pips in Last Hour; in an Uptrend Over Past 14 Days
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
USDCHF
(Last Updated February 24, 2021)
Welcome to the news page for USDCHF (USDCHF). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for USDCHF
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| United States New Home Sales MoM | Jan 2021 | US Dollar | USD | 2021-02-24 | 15:00 GMT | 2.1% | |
| United States New Home Sales | Jan 2021 | US Dollar | USD | 2021-02-24 | 15:00 GMT | 0.855M | |
| United States Fed Chair Powell Testimony | NA | US Dollar | USD | 2021-02-24 | 15:00 GMT | ||
| United States EIA Refinery Crude Runs Change | 19/Feb 2021 | US Dollar | USD | 2021-02-24 | 15:30 GMT | ||
| United States EIA Heating Oil Stocks Change | 19/Feb 2021 | US Dollar | USD | 2021-02-24 | 15:30 GMT |
The Trend
A trend/countertrend situation exists on USDCHF, in which an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to sell for those interested in playing the longer term trend.
USDCHF Moving Averages
Nuances in the trend on USDCHF can be understood by observing the behavior of its moving averages. The 20 and 50 day averages are pointing upwards, suggesting a bullish trend, while the 100 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes. This implies that the long-term trend — meaning going back over 3 months — is bearish, while the trend over the past month and a half is bullish.
Below is a chart showing USDCHF’s price with its moving averages.
As for assets in the Forex asset class USDCHF has been correlated to over the past week, it has demonstrated the strongest correlation with USDNOK. If we zoom out to a two week basis, though, CADCHF is the asset most correlated to USDCHF. Alternatively, the asset least correlated with USDCHF over the past week has been TRYJPY, but if we observe the prior two weeks, the asset least correlated with USDCHF has been USDSEK. The chart below illustrates USDCHF against its least correlated assets.
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The View From the Weekly Timeframe
Currently, USDCHF’s rate is up 85 pips (0.94%) from the week prior. USDCHF has seen its price go up 4 out of the past 5 weeks, thus creating some compelling opportunities for bulls. 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 USDCHF’s price action over the past year.
USDCHF: The Monthly View
Clearest trend on the monthly is apparent at the 24 month timeframe.
USDCHF Up 1 Pips Over Past Hour; in an Uptrend Over Past 14 Days
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.
USDCHF Up 5 Pips Over Past Hour, 2 Day Up Streak Snapped; in an Uptrend Over Past 14 Days
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.
USDCHF Down 0 Pips in Last Hour; Moves Up For the 2nd Straight Day
This move is a reversal from the hour prior, which saw price move up.
USDCHF Up 2 Pips in Last Hour, in a Downtrend Over Past 90 Days; Price Base in Formation Over Past 14 Days
The closest is the 100 day average, which is 61.9 pips away.
USDCHF Down 2 Pips in Last Hour, is Inching Close to 20 and 100 Day Averages; Pin Bar Pattern Appearing on Chart
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
USDCHF Down 4 Pips Over Past Hour, Nears 20 and 100 Day Moving Averages; Pin Bar Pattern Appearing on Chart
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
USDCHF Down 0 Pips in Last Hour, 2 Day Up Streak Ended; in a Downtrend Over Past 90 Days
It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe.
USDCHF Down 0 Pips in Last Hour, Entered Today Up For the 2nd Day In A Row; Eyes 100 Day Average
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.
USDCHF Down 0 Pips On Hourly Chart; Breaks Above 20 Day Average
Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.