USD/CHF Watching for Breakout

Doug Rosen

By: Doug Rosen

The Swissy is very close to what I would call very strong visual resistance. Price is above the ema's and the stochastics is beginning to cross up. The layer of resistance I am looking at is at .9313 Price has a chance to break this area with the ema's under price action forcing it upward.

USD/CHF Daily 12/7/11

On the 4 hour time frame price is riding up the ema's Price has broken above the monthly M3 pivot at .9227

USD/CHF 4 Hour 12/7/11

On the hourly time frame price keeps swing fibbing its way upside and has already broken above the weekly M3 at .9254 and is now retesting that zone. The lower Bollinger band is pointing straight up and is overlapped with the 55 ema. Price has also broken above the daily central pivot at .9249 and is now retesting it as it is overlapped with the 144 ema.

USD/CHF 1 Hour 12/7/11

On the 15 minute time frame I have a triangle trap drawn and am watching for price to break above the trap. If price breaks above .9265 then I expect the Swissy to have a bullish day.

USD/CHF 15 Minute 12/7/11

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 forextradeplans.com.

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