Technical analysis EURAUD for 07.12.2021
The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above 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 1.58900. The closest support is the top of the cloud
Key levels
- 1.61700, 1.60000, 1.58900, 1.57250, 1.56100, 1.54525
Trading scenario
- Recommended opening long positions (Buy) at the current price, with Take Profit of 1.60000 and Stop Loss of 1.58090
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.56100, with Take Profit of 1.54525 and Stop Loss of 1.57250
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.