USDCHF Down 1 Pips Over Past Hour, Entered Today Up For the 2nd Straight Day; Crosses 50 Day Moving Average

Hourly Update

(Last Updated November 12, 2020 1:14 GMT)

At the moment, USDCHF’s rate is down -1 pips (-0.01%) from the hour prior. USDCHF has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji 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 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 up 22 pips (0.24%) since yesterday (opening today near 0.91494), marking the 2nd straight day an increase has occurred. Relative to other instruments in the Forex asset class, USDCHF ranked 14th yesterday in terms of percentage price change. Here is a price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

Notably, USDCHF crossed above its 50 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 6 out of the past 10 days.