USDCHF Down 3 Pips in Last Hour, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated April 22, 2021 2:14 GMT)

Currently, USDCHF’s rate is down -3 pips (-0.03%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDCHF has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Of note is that the 20 hour changed directions on USDCHF; it is now pointing down. 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)

USDCHF is up 7 pips (0.08%) since the previous day (opening today near 0.9167), marking the 2nd day in a row an increase has occurred. Compared to its peers in the Forex, USDCHF gave its buyers a return that ranked 13th in terms of percentage change since the previous day. Let’s take a look at price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

Coming into today 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 50 day average, which is 42.7 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 10 days USDCHF’s price has gone down 6 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.