Technical analysis EURCHF for 11.02.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.0550. The closest resistance is the level 1.0600

Key levels

• 1.0720, 1.0640, 1.0600, 1.0550, 1.0510, 1.0460, 1.0415, 1.0360, 1.0300

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.0550, with Take Profit of 1.0600 and Stop Loss of 1.0510

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 1.0600, with Take Profit of 1.0550 and Stop Loss of 1.0640