Technical analysis EURCHF for 05.09.2022

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 trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.97150. The closest resistance is the level 0.97400

Key levels

• 0.98125, 0.97750, 0.97400, 0.97150, 0.96800

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.97150, with Take Profit of 0.96800 and Stop Loss of 0.97400

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.97400, with Take Profit of 0.97750 and Stop Loss of 0.97150