By: Doug Rosen
The Swissy like some other pairs has been in a range for the last few days. Could be due to all the volatility from last week and price just may need to settle a bit before it continues on but I am sure a lot has to do with thinner than normal trading conditions due to the holiday season. Hedge Fund managers and investment bankers are already out on their vacations.
On the daily time frame for the Swissy price has fallen just below the 5 ema and is approaching the 13 ema which may just push price right back up or price may fall down to the 21 ema then start heading back up.
On the 4 hour time frame price is currently in between the 5 and 55 ema's and the 21 and 13 ema's are all meeting up with the other ema's and may very well braid together meaning low volatility.
On the hourly time frame the low volatility is even more noticeable since price is caught within a Bollinger band tunnel or squeeze chamber which means that price tends to compress then pop out of the band so keep a close eye on it. Which way will price go?
It is really hard to say since price will do whatever it wants when it wants but I would be more bullish on this pair than bearish at this time since on the 15 minute time frame I have noticed a few sets of higher lows, however, price would have to break above the 233 ema at .9380 if it was going to take off to the upside. I would be looking for longs above .9390 or if price was to fall to .9360 then i would also be watching for long opportunities.