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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Daily analysis of USD/CHF for May 9, 2018

USD/CHF

The USD/CHF pair has been consolidating between the support level at 1.0000 (the key psychological level) and the resistance level at 1.0050. The consolidation has been going on for a few days but there would soon be a breakout in the market, which would most probably favor bulls. The outlook on the market continues to be bright.

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There is a Bullish Confirmation Pattern in the market, which makes short trades illogical at the moment. The EMA 11 is above the EMA 56, and the Williams' % Range period 20 is in the overbought region. The conditions in the market are currently favorable to buyers.

The material has been provided by InstaForex Company - www.instaforex.com