Technical analysis EURUSD for 05.06.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the lower border of the cloud. The closest support is the top of the cloud

Key levels

• 1.08920, 1.08240, 1.07730, 1.06120, 1.05770, 1.05240

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.07730, with Take Profit of 1.08240 and Stop Loss of 1.06920

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.06120, with Take Profit of 1.05770 and Stop Loss of 1.06920