FX.co ★ Daily analysis of USD/CHF for May 30, 2018

USD/CHF

The market is now quite choppy. This pair has done nothing significant this week, except a sideways movement in the context of a short-term downtrend. There is a ranging condition in the market. Even a pullback that was seen yesterday was quickly erased, as bears leave their footprints in the market.

However, a breakout is supposed to happen today or tomorrow, which would most probably favor bears. There is a Bearish Confirmation Pattern in the market, and the bias is bearish. The Williams' % Range period 20 is not far from the oversold region.