(Last Updated May 13, 2022 1:35 GMT)
Currently, USDCHF’s rate is down -9 pips (-0.09%) from the hour prior. This is the 2nd consecutive hour USDCHF has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 and 10 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 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 entered today at 1.00402, up 98 pips (0.99%) from the day prior. Relative to other instruments in the Forex asset class, USDCHF ranked 2nd the day prior in terms of percentage price change. Below is a price chart of USDCHF.
USDCHF Technical Analysis
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 12 out of the past 14 days.
The View From Around the Web
Of note is that traders in aggregate have opinions on USDCHF, with 6 buy signals on our radar and 1 sell signals. This imputes a buy/sell ratio of 6, which is very bullish. As for the rationale, technical traders seem to be citing the appearance of a supply zone technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Hello friends. My prediction of this currency pair. what is your opinion?