Technical analysis EURCHF for 09.08.2022
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.97880. The closest support is the level 0.96970
Key levels
- 0.98780, 0.98330, 0.97880, 0.96970, 0.96540, 0.96070
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 0.97880, with Take Profit of 0.98330 and Stop Loss of 0.97500
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 0.96970, with Take Profit of 0.96540 and Stop Loss of 0.97500
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.