Technical analysis EURUSD for 08.06.2023

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 ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.07350. The closest support is the level 1.06120

Key levels

• 1.08190, 1.07740, 1.07350, 1.06120, 1.05770, 1.05240

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.07350, with Take Profit of 1.07740 and Stop Loss of 1.06500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.06120, with Take Profit of 1.05770 and Stop Loss of 1.06500