USDCHF Down 0 Pips Over Past Hour, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated July 14, 2021 0:12 GMT)

Currently, USDCHF’s rate is down 0 pips (0%) from the hour prior. This is 2nd straight hour USDCHF has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDCHF. Given that we see an uptrend on the 20 and 10 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 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 0.9151, up 14 pips (0.15%) from yesterday. Compared to its peers in the Forex, USDCHF gave its buyers a return that ranked 8th in terms of percentage change since yesterday. The price chart of USDCHF below illustrates.

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 100 day average, which is 7.5 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 30 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days USDCHF’s price has gone up 9 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!