By: Doug Rosen
Yesterday price managed to stay above the 5 ema but I must say this pair has been stuck in the same range for a couple weeks and doesn't appear to want to trend up or down.
On the 4 hour time frame the ema's are all clumped together with the Bollinger bands very narrow. I have price confined in a trap and will be watching for breaks in either direction. Price is slightly above both the monthly and weekly M3.
On the hourly time frame price is still confined within the hourly triangle trap. Price is just above the ema's and I will be watching for breaks to the upside then bullish continuation from yesterday's move.
On the 15 minute time frame price made a 38.2 Fib overlapped with the central daily pivot point at .9242 and based on all my analysis I am bullish for the Swissy.
