(Last Updated November 20, 2020 2:14 GMT)
At the time of this writing, USDCHF’s rate is down -3 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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 is down 7 pips (0.08%) since the previous day (opening today near 0.91022), marking the 3rd straight day a decrease has occurred. Out of the 40 instruments in the Forex asset class, USDCHF ended up ranking 22nd for the day in terms of price change. Let’s take a look at price chart of USDCHF.
USDCHF Technical Analysis
Moving average crossovers are always interesting, so let’s start there: USDCHF crossed below its 20 day moving average yesterday. Also of note is that on the 14 and 30 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 6 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.