Technical analysis EURCHF for 03.03.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.01450. The closest resistance is the level 1.02150

Key levels

• 1.05175, 1.04500, 1.03825, 1.03150, 1.02600, 1.02150, 1.01450, 1.00850

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 1.02150, with Take Profit of 1.01450 and Stop Loss of 1.02600

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.02600, with Take Profit of 1.03150 and Stop Loss of 1.02150