It’s been a feast for bears operating on an hourly timeframe, as eurchf has now gone down 4 of the past 5 hours.
Of note is that the 20 hour changed directions on eurchf; it is now pointing up.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
This is a reversal of the price action on the previous hour, in which price moved up.
Compared to its peers in the forex, eurchf gave its buyers a return that ranked 30th in terms of percentage change since the previous day.
Price action traders may also wish to note that we see a pin bar candlestick pattern on eurchf.
Relative to other instruments in the forex asset class, eurchf ranked 10th yesterday in terms of percentage price change.
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
It’s been a feast for bears operating on an hourly timeframe, as eurchf has now gone down 8 of the past 10 hours.