USD/CHF Up 5 Pips in Last Hour, 4 Day Up Streak Snapped; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated May 12, 2022 1:35 GMT)

At the moment, USDCHF’s rate is up 5 pips (0.05%) from the hour prior. USDCHF has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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)

A moment of silence, please, for the end of USDCHF’s 4 day up streak; price ended the day prior down 18 pips (-0.18%) to finish the day at a rate of 0.99418. Relative to other instruments in the Forex asset class, USDCHF ranked 18th the day prior 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 8 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.