By: Doug Rosen
Yesterday's high impact move in the direction of USD strength pushed the Swissy above the 50.0 fib threshold on the weekly timeframe. I would love to see another up day and would love to see a weekly candle close above that 50.0 fib above .9400 Weekly price is riding up the 5 ema nice and gracefully, I don't see any end to this trend so soon.
On the daily timeframe same old story, cruising up the 5 and 13 ema.
Skipping over to the 4 hour timeframe the upper Bollinger band is wide open and pointing up and the 5 ema has picked up lots of angle and separation from the 5 ema a very obvious sign of speed and momentum.
On the hourly timeframe price is staying above the 5 and 13 ema's with the upper Bollinger band pointing up as well. After an abrupt move like the one we experienced yesterday usually we can expect a bit of consolidation, price needs to catch its breath and rebuild strength.
On the 15 minute timeframe price is still above the 55 ema. So in a nutshell we will watch for breaks above resistance and a retest then look to take long's. Stay bullish on the Swissy until price tells us otherwise.
