Daily analysis of USD/CHF for May 2, 2018

Daily analysis of USD/CHF for May 2, 2018

USD/CHF

This 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). Following the current pause in the bullish movement, a bullish journey will resume. The next targets are the resistance level at 1.0000, which is a major resistance level (a psychological level).

There is a Bullish Confirmation Pattern in the chart, which portends further bullish movement in favor of buyers. Short trades are not currently recommended. The EMA 11 is above the EMA 56.The material has been provided by InstaForex Company - www.instaforex.com