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USD/CHF Currently in an Uptrend

By: Doug Rosen

See how this USD/CHF technical analysis was implemented on a binary actions platform.

Beginning my analysis with the Swissy weekly time frame the Swissy looks bullish. Price is clearly riding along the 5 ema and the 13 ema has crossed above the 21 and the upper Bollinger band is pointing up. The 38.2 fib of the previous drop was not enough to push price back down. It was rejected by the 50.0 Fib level but is now heading back up and I expect price to keep going as high as 0.9950 area.

USD/CHF Weekly 11/8/11

Moving on to the daily chart price is riding up along the 5 ema and the 13 is crossing above the 21 and the upper Bollinger band is pointing up, all very bullish indications. Price is a little ways above the 5 ema so I do expect a retracement back to the 5 ema to give price a further boost to the upside.

USD/CHF Daily 11/8/11

On to the 4 hour chart price is also riding the 5 ema on this time frame as well with the upper Bollinger band open and pointing straight up, great angle and separation between the ema's, there is much energy in this move to the upside. At the time I am analyzing this pair price has poked and bounced off the monthly M3 at 0.9039 so I expect a bit of hesitation before this pair continues up.

USD/CHF 4 Hour 11/8/11

Moving on to the hourly chart the same bullish conditions exist as with the higher time frames I just mentioned, price is riding up the ema's, on this time frame the 13 ema seems to be in control. Price has just breached the weekly M5 at 0.9026 and has pulled back to the hourly 5 ema and the weekly M5 almost coincides with yesterdays high at 0.9030. Due to the bullish power behind this pair, I expect continuation to the upside.

USD/CHF 1 HOUR 11/8/11

Doug Rosen
About Doug Rosen
Doug Rosen is a Florida-based Forex trader who became a skilled technical trader through 3 years of intense practice and self-teaching. He now coaches a live trading room and analyzes the market on

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