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I've opened a highly speculative short on NZD CHF today. I've traded the short side of this pair quite successfully over the last year but price is now at a level where it needs to decide which way it's going to go. There is no mistaking the fact that the weekly trend is down and has been for some time. The huge rally we've seen certainly looks like a convincing trend change on the daily chart but the bigger Weekly and Monthly picture is still down, therefore, as smaller time frames are looking overbought, I've entered a small short at the weekly 200MA in expectation of a pull back to correct these overbought conditions.