Technical analysis EURCHF for 08.02.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.0530. The closest resistance is the level 1.0605

Key levels

• 1.0735, 1.0675, 1.0605, 1.0530, 1.0490, 1.0450, 1.0405, 1.0370, 1.0300

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.0530, with Take Profit of 1.0605 and Stop Loss of 1.0490

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.0490, with Take Profit of 1.0405 and Stop Loss of 1.0530