Technical analysis EURAUD for 04.10.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.50975. The closest resistance is the level 1.52275

Key levels

• 1.55800, 1.53950, 1.52275, 1.50975, 1.49575

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.52275, with Take Profit of 1.53950 and Stop Loss of 1.50975

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 1.50975, with Take Profit of 1.49575 and Stop Loss of 1.51490