Technical analysis EURUSD for 06.06.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud turned over from ascending to 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 1.06120

Key levels

• 1.08900, 1.08240, 1.07740, 1.06120, 1.05770, 1.05240

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.07740, with Take Profit of 1.08240 and Stop Loss of 1.06750

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.06120, with Take Profit of 1.05770 and Stop Loss of 1.06750