(Last Updated April 9, 2021 3:14 GMT)
At the time of this writing, USDCHF’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDCHF has now gone down 8 of the past 10 hours. 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 pin bar candlestick pattern on USDCHF. Given that we see downtrend on the 20 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 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)
USDCHF is down 52 pips (0.56%) since yesterday (opening today near 0.92418), marking the 4th day in a row a decline has happened. Compared to its peers in the Forex, USDCHF gave its buyers a return that ranked 33rd in terms of percentage change since yesterday. Let’s take a look at price chart of USDCHF.
USDCHF Technical Analysis
The first thing we should note is that USDCHF is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 74.5 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days USDCHF’s price has gone up 16 them.