Kumowizard

USDCHF - Reversal or further breakdown?

FX:USDCHF   U.S. Dollar/Swiss Franc
144 0 0
Looking at the Daily chart , we'll have the answer within 1-1,5 weeks maximum.

I know it still doesn't look super bullish . But what kind of small signals do we see here now:
- three higher lows, which may be able to develope to a bullish flag reversal, in case this minor uptrend holds.
- very low ADX (no trending momentum ),
- still some upward pressure on Slow Stoch (but this has less relevance I think)
- New signal: Bullish Senkou Span cross. This is not a strong bullish signal, and the confirmation will happen only in 26 days from now, but it worths to realise that the daily Kumo tries to change direction in bias.

In fact it is not easy, but very simple. Not easy to give firm prognosis now, but very simple to realise if it reverses and when to go long.
The levels to watch: Break and stay above 0,8850, it will start to behave very bullish .
Break below 0,8750 would bring an ugly future for the USD
We are exactly in between the two important levels.

You know my bias (still bullish somehow), but don't trade on my or anyone else's gut feelings. Trade on the breakout according to the signals of your system!

p.s.: 3 months 0,8700 / 0,8900 Long Straddle costs appr. 150 pips. I can not decide if it worths to buy that. Normally Straddles are very expensive to hold, unless price really starts to move quickly.
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