By: Doug Rosen
As it appears, both the EUR/CHF and GBP/CHF turned out to be bullish this past day. Looking at the EUR/CHF daily chart I see it is up against the 233 ema. I would also like to note that the Bollinger Band is narrow, not so much volatility within this time frame. Monthly M4 Pivot Point and the weekly M4 Pivot as well as the daily M3 all seem to overlap in the same vicinity and I can see how that could add pressure to the EUR/CHF pair and force it down a bit. Looking at the GBP/CHF I get quite a bit the same appearance as I did the EUR/CHF. Finally, as I look at the EUR/GBP it is obvious that it is range bound and that both currencies are of equal strength more or less.
