USDCHF Forex Analysis for May 30th 2019
With a good momentum, the price of USDCHF Spot Forex pair is moving up. Price action is stepping up and Forex traders could easily notice that price action is printing higher swing highs and higher swing lows. Key support level is present at 1.0033 price level, based on most recent swing low in 15 minutes time frame of USDCHF.
On Wednesday in Swiss Franc, there was no new important news event declaration, for the CHF. Technically; bullish prices could easily move USDCHF towards next resistance target at 1.0100 round number. With reference to the strong bullish trend, traders should consider only buy trades and no trade against bullish momentum of USDCHF. However; a clear bearish break down in price action below 1.0033 vital support area will end the up momentum. In such type of Forex trading market situation, avoid buying and selling USDCHF and just keep re-analyzing the price movement.
Source: https://fxinstructor.com/blog/usdchf-forex-analysis-for-may-30th-2019
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