Technical analysis XAUUSD for 11.05.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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 is the level 1835. The closest support is the level 1855

Key levels

• 1920, 1880, 1855, 1835, 1815, 1790, 1755

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1835, with Take Profit of 1855 and Stop Loss of 1815

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1815, with Take Profit of 1790 and Stop Loss of 1835