Technical analysis EURCHF for 20.10.2022

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 ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.98150. The closest resistance is the level 0.98950

Key levels

• 0.99600, 0.98950, 0.98150, 0.97550, 0.96850

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.98150, with Take Profit of 0.98950 and Stop Loss of 0.97550

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.97550, with Take Profit of 0.96850 and Stop Loss of 0.98150