Technical analysis USDCHF for 21.02.2024
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are 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 0.88560. The closest support is the level 0.87580
Key levels
0.89800, 0.89150, 0.88560, 0.87580, 0.86750, 0.86210
Trading scenario
Recommended opening long positions (Buy Stop) from the level of 0.88560, with Take Profit of 0.89150 and Stop Loss of 0.88100
Alternative scenario
Recommended opening short positions (Sell Stop) from the level of 0.87580, with Take Profit of 0.86750 and Stop Loss of 0.88100
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.