Technical analysis XAUUSD for 08.03.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. 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 2002.00. The closest resistance is the level 2033.00

Key levels

• 2070.00, 2033.00, 2002.00, 1974.50, 1951.00, 1935.00, 1915.00, 1879.00

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 2002.00, with Take Profit of 2033.00 and Stop Loss of 1974.50

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1974.50, with Take Profit of 1935.00 and Stop Loss of 2002.00