USDCHF reversal watch 15DEC08 (click to view graph) USDCHF has been falling on recent dollar weakness and has been oversold for a while. We are far away from the 62. Watch for colsolidation and break back towards the 62 and 800 MA’s on the 1HR. This is really just a watch and wait right now. No signals are being given, it just feels like it’s been trending down too fast and ready for a pullback. Notice the consolidation area at 1.1557. I would consider shorting if it broke convincingly below this point for a 50 to 100 pip trade target but low leverage and scaling in/out would be how I would play this one.