(Last Updated April 5, 2021 2:14 GMT)
At the moment, USDCHF’s rate is up 2 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Of note is that the 50 hour changed directions on USDCHF; it is now pointing up. 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 entered today at 0.94222, up 2 pips (0.02%) from yesterday. Compared to its peers in the Forex, USDCHF gave its buyers a return that ranked 12th in terms of percentage change since yesterday. Here is a price chart of USDCHF.
USDCHF Technical Analysis
The first thing we should note is that USDCHF is now close to its 20 day averages, located at 0.933 respectively, and thus may be at a key juncture along those timeframes. 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 92.2 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days USDCHF’s price has gone up 18 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!