Technical analysis EURCHF for 07.10.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed up, while blue is directed down. 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 0.96900. The closest resistance is the level 0.97250

Key levels

• 0.98250, 0.97725, 0.97250, 0.96900, 0.96425, 0.95900

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.96900, with Take Profit of 0.96425 and Stop Loss of 0.97250

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.97250, with Take Profit of 0.97725 and Stop Loss of 0.96900