EURCHF doing a good job staying above a cluster of MAs this week

EURCHF doing a good job staying above a cluster of MAs this week

Bulls more in control above the MA lines

The EURCHF has moved up in March (well from the Feb 27th low).  That move took the price to the highest level since January 24th. 

The move higher has stalled and settled in a range since March 7th. The downside extreme comes in at 1.1673. The high extreme area comes in at 1.17399-478.

In between sits a cluster of MAs.

  • The 100 bar MA on the 4-hour comes in at 1.1696
  • The 200 hour MA comes in at 1.17019
  • The 200 hour MA on the 4-hour comes in at 1.17063
  • The 100 hour MA comes in at 1.17109.

So the 1.1696 to 1.17109 area is a risk area for the pair.  Stay above it is more bullish. Move below and the bears start to take back more control.

On a break, the bias tilts more to the downside but be aware the 1.16732 is another key level to get to and through.  Nevertheless, it will switch the bias – in the short term – to the bearish side.

Stay above the MAs and the buyers remain in control. Look for momentum on a break back above the MA to help confirm more buying interest. Today, the buyers tried but failed. 

Looking at the daily chart below, the price moved above the 100 day MA on the run higher at the beginning of the month (at 1.1645 currently).  The high for the year reached 1.18319.  If the buyers can keep the control off the hourly, that January high will be targeted. 

Mike just posted a great read on the CHF and the SNB.  (
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.