USD/CHF Up 2 Pips in Last Hour, Moves Down For the 3rd Day In A Row; Price Base in Formation Over Past 30 and 90 Days
This imputes a buy/sell ratio of 1.67, which is bullish.
USDCHF
(Last Updated November 26, 2020)
Welcome to the news page for USDCHF (USDCHF). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
Price action over the past 3 months suggests there isn’t a clear trend in place for USDCHF. As such, this might be an opportunity for rangebound traders, or trend traders focused on longer timeframes.
USDCHF Moving Averages
The moving averages on USDCHF indicate a trend that is clearly bearish. Moreover, it should also be noted that the 20 and 50 SMA just turned bearish today.
Below is a chart showing USDCHF’s price with its moving averages.
Regarding USDCHF’s correlations over the past 7 days, it has demonstrated the strongest correlation with EURUSD. If we zoom out to a two week basis, though, GBPJPY is the asset most correlated to USDCHF. Alternatively, EURCAD has been the asset least correlated with USDCHF — but if we observe the prior two weeks, the asset least correlated with USDCHF has been GBPUSD. See the chart below to observe the recent price action in USDCHF versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
Currently, USDCHF’s rate is down -0.0037 (-0.4%) from the week prior. Moreover, note that this is the 2nd week in a row USDCHF has seen its price head down. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. USDCHF’s weekly price action over the past 52 weeks can be seen via the chart below.
USDCHF: The Monthly View
Strongest trend on the 24 month timeframe.
USD/CHF Down 0 Pips On Hourly Chart, Moves Down For the 2nd Consecutive Day; Price Base in Formation Over Past 14, 30 and 90 Days
It’s been a feast for bears operating on an hourly timeframe, as usdchf has now gone down 8 of the past 10 hours.
USD/CHF Down 2 Pips Over Past Hour, 2 Day Up Streak Broken; Breaks Below 20 Day Average
This imputes a buy/sell ratio of 2.5, which is bullish.
USD/CHF Down 1 Pips in Last Hour, Moves Up For the 2nd Straight Day; Crosses 20 Day Moving Average
As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern.
USDCHF Down 10 Pips Over Past Hour, 3 Day Down Streak Ended; is Inching Close to 20 and 50 Day Averages
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
USDCHF Down 4 Pips On Hourly Chart, 3 Day Down Streak Ended; Price Base in Formation Over Past 30 Days
It’s been a feast for bears operating on an hourly timeframe, as usdchf has now gone down 8 of the past 10 hours.
USDCHF Down 3 Pips Over Past Hour, Entered Today Down For the 3rd Straight Day; Price Base in Formation Over Past 14 and 30 Days
This move is a reversal from the hour prior, which saw price move up.
USDCHF Up 1 Pips in Last Hour, Came Into Today Down For the 2nd Consecutive Day; Nears 20 and 50 Day Moving Averages
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.
USDCHF Up 1 Pips in Last Hour, Price Base in Formation Over Past 30 Days; is Inching Close to 20 and 50 Day Averages
Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
USDCHF Down 1 Pips in Last Hour, 2 Day Down Streak Snapped; Nears 20 and 50 Day Moving Averages
Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.