Technical analysis EURCHF for 17.02.2022

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 turned over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.04900. The closest resistance is the level 1.05250

Key levels

• 1.05950, 1.05625, 1.05250, 1.04900, 1.04525, 1.04125, 1.03750, 1.03175

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.04900, with Take Profit of 1.04525 and Stop Loss of 1.05250

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.05250, with Take Profit of 1.05625 and Stop Loss of 1.04900