Technical analysis EURCHF for 28.10.2022

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 below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.98500. The closest resistance is the level 0.99000

Key levels

• 0.99550, 0.99000, 0.98500, 0.98000, 0.97400

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.98500, with Take Profit of 0.98000 and Stop Loss of 0.99000

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.99000, with Take Profit of 0.99550 and Stop Loss of 0.98500