Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up.
It’s been a feast for bears operating on an hourly timeframe, as usdchf has now gone down 4 of the past 5 hours.
Relative to other instruments in the forex asset class, usdchf ranked 24th the day prior in terms of percentage price change.
This is a reversal of the price action on the previous hour, in which price moved up.
Price action traders may also wish to note that we see a doji candlestick pattern on usdchf.
It’s been a feast for bears operating on an hourly timeframe, as usdchf has now gone down 5 of the past 5 hours.
Or to simplify this another way, note that out of the past 10 days usdchf’s price has gone down 5 them.
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
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.
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.