Technical analysis EURUSD for 24.05.2023

The Tenkan-sen line is located below the Kijun-sen line. Blue is directed downward, while red remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.08240. The closest support is the level 1.06980

Key levels

• 1.09750, 1.08900, 1.08240, 1.06980, 1.06320, 1.05880

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.08240, with Take Profit of 1.08900 and Stop Loss of 1.07500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.06980, with Take Profit of 1.06320 and Stop Loss of 1.07500