By: Doug Rosen
What I am watching for the most with the Swissy is will daily price fall and close below .9310 This level seems to hold some importance and has managed to be both support and resistance. The daily 21 ema is currently flush with this level and price is just above so I would only expect price to head up from where it is at but once again, this week is not a normal week and follow through on what we would expect to happen technically may not happen. One thing is for sure, for price to continue up we need a break and close above .9400
On the 4 hour timeframe price action is very weak at this time. The Bollinger bands are very narrow and the ema's are all clumped together. The previous 4 hour candle has only ranged 7 pips and the previous hourly candle has only ranged 3 pips at the time I am writing this analysis.
On the hourly timeframe same story as the 4 hour, low volatility and the ema's are clumped together and price is in a very tight range.
