Technical analysis EURUSD for 01.06.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. 

Key levels

• 1.09700, 1.08910, 1.08230, 1.06200, 1.05630, 1.05120

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.08230, with Take Profit of 1.08910 and Stop Loss of 1.06950

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.06200, with Take Profit of 1.05630 and Stop Loss of 1.06950