Technical analysis USDCHF for 07.08.2023
The Tenkan-sen line is located below the Kijun-sen line. Red is directed up, while blue is directed down. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed up, while blue is directed down. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.87750. The closest support is the level 0.86780
Key levels
- 0.88900, 0.88340, 0.87750, 0.86780, 0.86170, 0.85730
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 0.87750, with Take Profit of 0.88340 and Stop Loss of 0.87200
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 0.86780, with Take Profit of 0.86170 and Stop Loss of 0.87200
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.