Technical analysis EURCHF for 20.05.2022

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 resistance is the level 1.03000. The closest support is the level 1.02600

Key levels

• 1.04300, 1.03600, 1.03000, 1.02600, 1.02250, 1.01650

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.03000, with Take Profit of 1.03600 and Stop Loss of 1.03245

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.02600, with Take Profit of 1.02250 and Stop Loss of 1.03245