By: Doug Rosen
I begin my analysis today for the Swissy on the daily time frame. The 5 and the 13 ema's are very close to each other at this point and the stochastics is in the overbought zone crossing down and out I see that this pair may soon start to head on down. I will not be bearish on this pair until price makes its way below the ema's.
On the 4 hour time frame price is at a 61.8 fib level but I don't expect any type of reaction from this, after all, the Non-Farm Payroll will be out in just a few hours and institutional traders are more than likely not going to trade until the report is released. To me this is a significant NFP report since it is the final NFP of the year.
On the hourly time frame price is just under the 144 ema and I really don't expect price to break this 144 ema before the NFP report is released. Currently price is just below the daily M3 pivot at .9173 and just above the weekly S1 at .9165
On the 15 minute time frame the ema's are rather close to each other indicating nothing much going on.