Technical analysis USDCHF for 07.11.2023
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 0.90050. The closest resistance is the level 0.90325
Key levels
- 0.90800, 0.90500, 0.90325, 0.90050, 0.89775
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 0.90325, with Take Profit of 0.90050 and Stop Loss of 0.90500
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 0.90500, with Take Profit of 0.90800 and Stop Loss of 0.90325
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.