Technical analysis EURUSD for 29.05.2023

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 1.07740. The closest support is the level 1.06560

Key levels

• 1.08800, 1.08230, 1.07740, 1.06560, 1.06230. 1.05870

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.07740, with Take Profit of 1.08230 and Stop Loss of 1.07200

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.06560, with Take Profit of 1.06230 and Stop Loss of 1.07200