Technical analysis EURUSD for 26.05.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 1.07740. The closest support is the level 1.06830

Key levels

• 1.08910, 1.08240, 1.07740, 1.06830, 1.06240, 1.05750

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.07740, with Take Profit of 1.08240 and Stop Loss of 1.07250

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.06830, with Take Profit of 1.06240 and Stop Loss of 1.07250