Daily analysis of USD/CHF for May 4, 2018

USD/CHF

This currency trading instrument has already tested the psychological level at 1.0000, and it is yet to go above it. Price would eventually go above that psychological level, targeting the resistance level at 1.0050. The USD/CHF pair has gone upwards this week, and this seems to be the beginning of a great bullish momentum in the market (given the stamina in USD).

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The EMA 11 is above the EMA 56, and the Williams' % Range period 20 remains in the overbought region. There is a Bullish Confirmation Pattern in the market, which portends further rally northwards.

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