By: Doug Rosen
The Swissy finally blew through the 50.0 fib level of .9400 and beyond. On the weekly time frame the next area of major resistance is at the 144 ema at .9770 which is where I will expecting a reaction if price makes its way up to that level.
On the daily time frame price is extended and walking the band up. Price has been riding the Bollinger band. I would expect some kind of retracement back to the 5 or 13 ema for price to keep rising up.
On the 4 hour time frame price is fibbing its way up and riding the 5 ema up. Price has also reached the monthly M4 pivot which is a reversal pivot so that will help the retracement.
On the hourly time frame price appears to be rolling over to the downside. Price has broken through the 21 ema and the 5 ema is beginning to cross below the 13 ema so price could be heading down to the 55 ema at around .9460 which will also be a swing fib then I would expect price to continue on up from there.
On the 15 minute time frame price has rolled downward already and is now below the ema's which will soon fall to the daily central pivot at .9500, bounce up to make a fib then should continue to drop down to at least the 144 ema before continuing back up.