Technical analysis XAUUSD for 07.03.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1974.50. The closest resistance is the level 2010

Key levels

• 2033, 2010, 1974.50, 1944, 1923, 1901, 1885, 1861, 1826

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1974.5, with Take Profit of 2010 and Stop Loss of 1944

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1944, with Take Profit of 1923 and Stop Loss of 1965