Technical analysis EURUSD for 16.05.2023
The Tenkan-sen line is located below the Kijun-sen line. Red is directed up, while blue is directed down. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Red is directed up, while blue is directed down. 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 1.09260. The closest support is the level 1.07980
Key levels
- 1.10420, 1.09820, 1.09260, 1.07980, 1.07310, 1.06620
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.09260, with Take Profit of 1.09820 and Stop Loss of 1.08600
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.07980, with Take Profit of 1.07310 and Stop Loss of 1.08600
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.