Technical analysis EURUSD for 31.05.2023
The Tenkan-sen line is located above the Kijun-sen line. Blue is directed downward, while red remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located above the Kijun-sen line. Blue is directed downward, while red remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.07880. The closest support is the level 1.06800
Key levels
- 1.08900, 1.08430, 1.07880, 1.06800, 1.06250, 1.05870
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1.07880, with Take Profit of 1.08430 and Stop Loss of 1.07300
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1.06800, with Take Profit of 1.06250 and Stop Loss of 1.07300
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.