By: Doug Rosen
See how this USD/CHF technical analysis was implemented on a binary actions platform.
The Swissy continues to fall. On the weekly chart price is now riding the 5 ema down and the lower Bollinger band is open and pointing down. Price is approaching the 55 and 144 ema's around 0.8700 but it could take another day or so to get there, but when we do get there, I expect some type of reaction. Looking now at the 4 hour chart which does happen to be my monthly pivot chart as well, price is riding the 5 and 13 ema's down but we are approaching the monthly M0 at 0.8777 and the lower Bollinger band which is not open and pointing up is not far below that level.
Moving on to my hourly chart as well as my weekly pivot chart price action is also riding along the ema's to the downside and price just recently broke last week's low as well as the weekly M2 at 0.8808. The next pivot level down, the S1 is at 0.8717.
Finally, moving down to the 15 minute chart as well as my daily pivot chart I can see we are in a bit of a consolidation range and price is below the daily central pivot at 0.8798 and price is currently up against the 55 15 minute 55 ema and finds itself in between narrow Bollinger bands with a stochastic pointing up and approaching the overbought zone. Next pivot level below is the M2 at 0.8775 just above yesterdays low at 0.8771.
