(Last Updated November 13, 2020 1:27 GMT)
Currently, USDCHF’s rate is down -0.0002 (-0.02%) from the hour prior. The hourly chart shows that USDCHF has seen 3 straight down hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Of note is that the 50 hour changed directions on USDCHF; it is now pointing up. 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)
A moment of silence, please, for the end of USDCHF’s 3 day up streak; price ended yesterday down 22 pips (-0.24%) to finish the day at a rate of 0.91437. Out of the 40 instruments in the Forex asset class, USDCHF ended up ranking 24th for the day in terms of price change. Let’s take a look at price chart of USDCHF.
USDCHF Technical Analysis
Notably, USDCHF is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Or to simplify this another way, note that out of the past 10 days USDCHF’s price has gone up 5 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on USDCHF, with 9 buy signals on our radar and 23 sell signals. This imputes a buy/sell ratio of 0.39, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Break of trendline and a buy structure