Technical analysis EURCHF for 31.05.2022
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.03000. The closest resistance is the level 1.03600
Key levels
- 1.04750, 1.04150, 1.03600, 1.03000, 1.02475, 1.01950
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1.03000, with Take Profit of 1.03600 and Stop Loss of 1.02475
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.02475, with Take Profit of 1.01950 and Stop Loss of 1.02690
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.