(Last Updated November 11, 2020 0:14 GMT)
At the time of this writing, USDCHF’s rate is down -1 pips (-0.01%) from the hour prior. The hourly chart shows that USDCHF has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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)
After 4 down days, USDCHF snaps its streak, rising 130 pips (1.44%) over the past day to close at an exchange rate of 0.91275. Relative to other instruments in the Forex asset class, USDCHF ranked 12th the previous day in terms of percentage price change. Here is a price chart of USDCHF.
USDCHF Technical Analysis
First things first: USDCHF crossed above its 20 day moving average yesterday. 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. Or to simplify this another way, note that out of the past 10 days USDCHF’s price has gone up 6 them.