By: Doug Rosen
Yesterday's large move up for the Swissy pushed it above the 50.0 fib level of .9400 which means it could go as high as the 61.8 fib level around .9950 however, before price reaches the 61.8 it will meet up with the weekly 144 ema around 1.0335 which will most likely act as strong resistance. But in any case, on the weekly time frame there are a lot of pips in between current price action and the 144 ema.
On the daily time frame price is coasting along the ema's very smoothly and gracefully and heading straight up. Today's daily candle is extended outside of the Bollinger band and a ways from the daily 5 ema so a pull back to the daily 5 is likely and price needs to make its way back within the Bollinger bands. Also, on the stochastics price is in the overbought zone.
On the 4 hour time frame price is also far above the 5 ema indicating it needs to fall back a bit to touch the 5 ema but the upper Bollinger band is wide open and pointing straight up the Swissy looks very bullish.
On the hourly time frame price is riding above the 5 ema and on the 15 minute time frame price is coasting up the ema's.
On the monthly pivots price is already way past the R1 and on the weekly pivots price is already beyond the R3. On the daily pivots price is above the central pivot point but has to contend with the M3 at .9466 if its gonna keep heading up.