USD/CHF Up 3 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated May 4, 2022 1:35 GMT)

At the time of this writing, USDCHF’s rate is up 3 pips (0.03%) from the hour prior. The hourly chart shows that USDCHF has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 is up 14 pips (0.15%) since the previous day (opening today near 0.97922), marking the 9th straight day an upward move has occurred. Relative to other instruments in the Forex asset class, USDCHF ranked 12th the previous day in terms of percentage price change. Below is a price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 9 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.