Technical analysis EURUSD for 11.05.2023
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 resistance is the level 1.09820. The closest support is the level 1.08670
Key levels
- 1.10810, 1.10330, 1.09820, 1.08670, 1.08040, 1.07340
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.09820, with Take Profit of 1.10330 and Stop Loss of 1.09200
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.08670, with Take Profit of 1.08040 and Stop Loss of 1.09200
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.