Technical analysis EURUSD for 17.10.2024
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support and resistance levels are Tenkan-se and Kijun-sen, respectively. The closest support and resistance levels are Tenkan-se and Kijun-sen, respectively
Key levels
1.08522, 1.08580, 1.08764, 1.08939, 1.09091
Trading scenario
Recommended opening short positions (Sell Limit) from the level of 1.08764, with Take Profit of 1.08522 and Stop Loss of 1.08939
Alternative scenario
Recommended opening short positions (Sell Stop) from the level of 1.08580, with Take Profit of 1.08500 and Stop Loss of 1.08764
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.