USD/CHF
The situation in the market remains unchanged. The USD/CHF pair has been consolidating between the support level at 1.0000 (a great 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.
The EMA 11 is above the EMA 56, and the Williams' % Range period 20 is in the overbought region. There is a Bullish Confirmation Pattern in the market, which makes short trades illogical at the moment.
The material has been provided by InstaForex Company - www.instaforex.com
No comments:
Post a Comment