(Last Updated November 19, 2020 2:14 GMT)
At the time of this writing, USDCHF’s rate is up 1 pips (0.01%) from the hour prior. USDCHF has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, with price now being above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
USDCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
USDCHF is down 1 pips (0.01%) since yesterday (opening today near 0.91094), marking the 2nd consecutive day it has gone down. Out of the 40 instruments in the Forex asset class, USDCHF ended up ranking 16th for the day in terms of price change. Let’s take a look at price chart of USDCHF.
USDCHF Technical Analysis
The first thing we should note is that USDCHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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. Or to simplify this another way, note that out of the past 10 days USDCHF’s price has gone down 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.