The pair has almost tested an important level at 1.0000, because it retraced.The next target is the resistance level at 1.0000, which is a major resistance level (a psychological level). The USD/CHF 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).
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.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CHF
The pair has almost tested an important level at 1.0000, because it retraced.The next target is the resistance level at 1.0000, which is a major resistance level (a psychological level). The USD/CHF 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).
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.
The material has been provided by InstaForex Company – www.instaforex.com
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