By: Doug Rosen
I will begin my analysis for the Swissy on the daily time frame. The daily 5 ema seems to be rolling over a bit and now has very little angle and separation between it and the 13 ema, however, price is still above the 13 ema so this pair is still in upside mode. A kiss of the 13 ema could send this pair upward a bit further, however, the stochastics does indicate this pair has been overbought.
Moving on to the 4 hour time frame I must acknowledge that yesterday, this pair did break out of a price channel it has been confined in since last month to the downside. Price fell and landed on the 4 hour 55 ema which acted as support and pushed price up a bit to be confronted by the 21 ema and is now falling down again. If this pair continues to drop it will cause an up day for the EUR/USD of course. Conversely, it could also bounce off the 55 ema again and head back up then causing the EUR/USD to have a down day. The 4 hour 55 ema sits a .9117 which nearly overlaps with the weekly central pivot point as well as the hourly 233 ema so a bounce at that level is highly likely.
On the hourly time frame price has been fibbing its way downward and just recently bounced off the hourly 55 ema to the downside. I would like to point out that the daily M2 pivot point is at .9123 which could very well add to a bounce back up if price reaches that level.
