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. 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