By: Doug Rosen
The Swissy begins its fresh week above the weekly 5 ema but slightly spaced a bit above the 5 ema it is possible for price to drift down just a bit before continuing on up and price is up against very strong resistance since .9300 has already held up as strong resistance a couple other times in the past. If price was to break this area, I would expect it to continue on up until .9430 On the daily time frame price is riding the 5 ema and in the overbought zone in the stochastics so we will soon see if .9300 will hold up or bust last month's high at .9315.
On the 4 hour time frame price is trapped within a channel in the midst of the channel making a 38.2 fib to the upside.
On the hourly time frame price keeps making its swings to the upside but last week's high is around .9330
On the 15 minute time frame price has just come off of a lower high so we will just have to see if price may be setting up to start heading down.
