USDCHF Down 2 Pips Over Past Hour, is Inching Close to 20 and 100 Day Averages; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated July 23, 2021 2:12 GMT)

At the moment, USDCHF’s rate is down -2 pips (-0.03%) from the hour prior. USDCHF has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend 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)

USDCHF entered today at 0.91894, up 14 pips (0.15%) from the previous day. Compared to its peers in the Forex, USDCHF gave its buyers a return that ranked 15th in terms of percentage change since the previous day. Below is a price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

The first thing we should note is that the current price of USDCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 7 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. 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 6 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.