By: Doug Rosen
The Swissy has a bullish look to me. On the daily chart price breached the upper trend line then fell back a bit to the ema's which will give price a push back up. The stochastics has surfaced out from the oversold zone and is pointing up and the daily 5 ema is prepping to cross the other ema's. Moving on to the 4 hour monthly pivot chart, price has breached the central pivot at 0.8881 then retraced back down to the 144 ema and the 13 ema is heading up and has just crossed the 233 ema and the 21 and 55 is pointing up. The ema's will soon catch up with price and give it the force it needs to continue its rise.
Onto the hourly weekly pivot chart I can see that price did break through last week's high at 0.8877 then pulled back and has developed a flag pattern so i do expect price to soon break out of the trap it is currently in and continue to the upside.
Finally, on the 15 minute daily pivot chart I see that price is hovering on the central pivot at 0.8863 and is with the EUR/CHF and the GBP/CHF pairs, price has been in a tight consolidation range. Bollinger bands are closed in together and the ema's are clumped together as well so there is no real price action at this time to speak of and this is usually very common after a major move. As I have said in the past, price is like a living entity, if it moves to fast and hard it falls out of breath and needs a break and a chance to catch its breath before continuation and this is exactly what is happening. A break of the upper trendline on the 15 minute chart will be an early hintt hat price will be back on the rise.
