USD/CHF Down 2 Pips Over Past Hour, 2 Day Up Streak Broken; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated July 20, 2021 2:6 GMT)

At the moment, USDCHF’s rate is down -2 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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)

The choppiness in the recent daily price action of USDCHF continues; to start today, it came in at a price of 0.91864, down 9 pips (0.1%) since the previous day. Relative to other instruments in the Forex asset class, USDCHF ranked 21st the previous day in terms of percentage price change. Let’s take a look at price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDCHF crossed below its 20 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 8.5 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 9 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!