By: Doug Rosen
I will start my analysis today for the Swissy examining the weekly chart briefly. Price has broken above the 38.2 fib and for sure will head up to the next level, the 50.0 level at .9398, which it almost reached a few weeks ago but I think this time it will reach it and will probably fight it out at that level and even break it and head up at least to the weekly 144 ema which exists just below the 61.8 fib level.
Moving on to the daily timeframe is marching on up and riding the 5 ema and the upper Bollinger is wide open and pointing up.
Moving on to the 4 hour timeframe price is approaching a 78.6 fib level at .9169 where some contention is expected, however, price is gracefully riding the 5 ema to the upside and the upper Bollinger band is wide open and pointing up.
On the hourly timeframe same thing applies as on the 4 hour, price is riding the 5 ema up nice and smoothly. Looking at the 15 minute timeframe price is riding up the 21 ema and the upper Bollinger band is wide open and pointing up.
The Swissy is approaching the monthly R1 at .9196, expect some resistance in this area and could be a good opportunity to enter a long for this pair on the pullback. Price has already gone beyond all the weekly pivot points and event the fib extensions known as Fibots. Price is also above yesterday's high of .9109 and is soon to approach the daily R1 at .9160 where I would expect price to no doubt pullback at that level then to continue its way upside.