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12.03.201804:40 Forex Analysis & Reviews: Daily analysis of USD/CHF for March 12, 2018

Long-term review

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USD/CHF

There was a commendable bullish effort in this market. The USD/CHF is bullish in the near-term. However, it is neutral in the medium-term and bearish in the long-term. Now, in the short-term, price moved sideways from Monday to Wednesday and then rose on Thursday, becoming bullish. From the support level at 0.9350, the price rose above the support level at 0.9500, closing above it on Friday.

There is a short-term Bullish Confirmation Pattern in the market. There could be further upwards movement, but it will not last long because a considerable amount of pullback is expected this week, owing to a bullish outlook on CHF, which may cause other CHF pairs to go downwards.

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