Technical analysis EURAUD for 24.10.2022

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 turned over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.55110. The closest support is the level 1.54290

Key levels

• 1.56300, 1.55800, 1.55110, 1.54290, 1.53770, 1.53120

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.55110, with Take Profit of 1.55800 and Stop Loss of 1.54750

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.54290, with Take Profit of 1.53770 and Stop Loss of 1.54750