Technical analysis EURUSD for 06.03.2023

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains 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 resistance is the level 1.07250. The closest support is the level 1.06320

Key levels

• 1.07970, 1.07620, 1.07250, 1.06320, 1.05840, 1.05520

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.07250, with Take Profit of 1.07620 and Stop Loss of 1.06750

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.06320, with Take Profit of 1.05840 and Stop Loss of 1.06750