USDCHF Up 1 Pips in Last Hour, 2 Day Down Streak Snapped; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated April 30, 2021 4:14 GMT)

Currently, USDCHF’s rate is up 1 pips (0.01%) from the hour prior. USDCHF has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 0.90895, down 0 pips (0%) since the day prior. Compared to its peers in the Forex, USDCHF gave its buyers a return that ranked 25th in terms of percentage change since the day prior. 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 200 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 200 day average, which is 0.9 pips away. 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 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days USDCHF’s price has gone down 5 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.