Technical analysis EURCHF for 04.05.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.03300. The closest support is the level 1.02600

Key levels

• 1.04530, 1.03890, 1.03300, 1.02600, 1.01980, 1.01310

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.03300, with Take Profit of 1.03890 and Stop Loss of 1.02950

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.02600, with Take Profit of 1.01980 and Stop Loss of 1.02950