USDCHF Down 1 Pips in Last Hour, in a Downtrend Over Past 30 Days; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated January 5, 2021 2:14 GMT)

At the time of this writing, USDCHF’s rate is down -1 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of USDCHF continues; to start today, it came in at a price of 0.88114, down 44 pips (0.5%) since the previous day. Relative to other instruments in the Forex asset class, USDCHF ranked 29th the previous day in terms of percentage price change. Here is a price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

Notably, the current price of USDCHF is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for USDCHF has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 10 out of the past 14 days. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!