By: Doug Rosen
I briefly look at the weekly chart for this pair and it is obvious this pair continues to be bullish. Upper Bollinger Band is open and pointing up, the 55 has been busted and the 5 ema is pointing straight up forcing price to the upside.
The daily chart also reflects the same bullish attitude with price riding the 5 ema up with the upper Bollinger band wide open and pointing up as well as strong angle and separation between the ema's.
On the 4 hour chart price also continues to be gracefully riding up the 5 ema. The same applies to the hourly chart with the 13 or 21 ema stepping in when necessary. Same applies to the 15 minute chart. Price is however, up against the monthly and weekly M4 Reversal Pivot Point as well as the previous day's high overlapped with the daily M3. So, with all this being said, USD/CHF still appears to be bullish, USD strength prevails. We could be in for a slight retracement down to the daily central pivot point but I do expect price to continue to the upside.
