I would like to long USDCHF.
I see the CCI divergent with prices on daily chart. It is a bullish reversal.
How about Fundamental?
Sticking my neck out, here, but personally I would not go Long right now. The chart and the fundamentals are telling me Short, if anything. Certainly I would not be confident expecting that much more upside, but obviously you don’t say how much of a move you would be expecting.
Yes, I know the currency pair is in the down trend in daily or weekly chart.
However, there is one having great determination or courage to temporarily against the theory of trend.
This force is known as Central Bank Intervention & bullish divergence in the 4hrs & daily chart.
CBI occurs when central banks think that Franc currency is trading too high against a basket of major currencies. They will intervene forcefully by selling their own currency to bring rates to the lower levels.
In this coming few days, the Swiss government and the central bank are in talks over a possible intervene and weaken the Franc.
In the chart, the prices of USDCHF are making lower lows but the CCI oscillator is making higher lows , bullish divergence exhibited.
So, I was expecting this USDCHF pair launched on Aug 11. 301 Moved Permanently
