NZDCHF

This is the 2nd straight hour nzdchf has seen its price head up.

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.

Or to simplify this another way, note that out of the past 30 days nzdchf’s price has gone down 17 them.

Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.

For additional context, note that price has gone up 5 out of the past 10 days.

The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.

If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.

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.

This is a reversal of the price action on the previous hour, in which price moved up.

It should be noted, though, the 200 day simple moving average turned downwards, which may be a bearish sign.