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31 Oct 2013
EUR/CHF heading to oversold territory around daily lows
FXstreet.com (Barcelona) - Having posted an overnight high at 1.2360, EUR/CHF has declined to post a morning low at 1.2328, just below where spot is presently trading at 1.2331.
EUR/CHF Technical Strength
The hourly OB/OS Index is pointing to an oversold market while RSI reads 29 at the moment and the ADX is at 21. On the same EUR/CHF chart, the 200-period SMA is right now at 1.2336 and flat, while the exponential average closing price for the last 20 days is 1.2328 and is trending sideways.
How volatile has the EUR/CHF been?
Bollinger Band width is 29 pips and observed as being gently expanding in the hourly chart, while the ATR(14) prints 6 pips. The average movement for this session has been of 6 pips per hour in the last 4 weeks.
What are today’s key levels?
The central pivot point is located at 1.2353. Pivot supports for this pair are to be found at 1.2332 (S1), 1.2314 (S2) and 1.2293 (S3). Conversely, daily pivot resistances for this pair are to be found at 1.2371 (R1), 1.2392 (R2) and 1.2410 (R3).
Special attention deserves the price range 1.2335-1.2369 where several technical levels are confluent today. Candlestick patterns detected in the EUR/CHF are: a Dark Cloud Cover to be found in the 1-day timeframe.
EUR/CHF Technical Strength
The hourly OB/OS Index is pointing to an oversold market while RSI reads 29 at the moment and the ADX is at 21. On the same EUR/CHF chart, the 200-period SMA is right now at 1.2336 and flat, while the exponential average closing price for the last 20 days is 1.2328 and is trending sideways.
How volatile has the EUR/CHF been?
Bollinger Band width is 29 pips and observed as being gently expanding in the hourly chart, while the ATR(14) prints 6 pips. The average movement for this session has been of 6 pips per hour in the last 4 weeks.
What are today’s key levels?
The central pivot point is located at 1.2353. Pivot supports for this pair are to be found at 1.2332 (S1), 1.2314 (S2) and 1.2293 (S3). Conversely, daily pivot resistances for this pair are to be found at 1.2371 (R1), 1.2392 (R2) and 1.2410 (R3).
Special attention deserves the price range 1.2335-1.2369 where several technical levels are confluent today. Candlestick patterns detected in the EUR/CHF are: a Dark Cloud Cover to be found in the 1-day timeframe.