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.