(Last Updated April 28, 2022 1:36 GMT)
At the time of this writing, USDCHF’s rate is down -1 pips (-0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDCHF. 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. The moving averages on the hourly 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.
USDCHF End of Day Recap
Updated 00:30 GMT (04:30 EST)
USDCHF is up 66 pips (0.69%) since the previous day (opening today near 0.96876), marking the 5th consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, USDCHF ranked 5th the previous day in terms of percentage price change. Below is a price chart of USDCHF.
USDCHF Technical Analysis
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. Or to simplify this another way, note that out of the past 30 days USDCHF’s price has gone up 20 them.