Technical analysis USDCHF for 10.05.2023
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.88700. The closest resistance is the level 0.88975
Key levels
- 0.89550, 0.89250, 0.88975, 0.88700, 0.88400
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 0.88700, with Take Profit of 0.88400 and Stop Loss of 0.88975
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 0.88975, with Take Profit of 0.89250 and Stop Loss of 0.88700
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.