USDCHF Up 8 Pips in Last Hour, 2 Day Up Streak Broken; Breaks Below 20 Day Average

Hourly Update

(Last Updated October 15, 2021 1:12 GMT)

At the moment, USDCHF’s rate is up 8 pips (0.09%) from the hour prior. The hourly chart shows that USDCHF has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDCHF. Given that we see an uptrend on the 20 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 0.92403, down 65 pips (0.7%) from the day prior. Relative to other instruments in the Forex asset class, USDCHF ranked 34th the day prior in terms of percentage price change. Let’s take a look at price chart of USDCHF.

USDCHF

USDCHF Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDCHF crossed below its 20 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 days.