Technical analysis XAUUSD for 27.05.2022

The Tenkan-sen line is located below 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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1846.75. The closest resistance is the level 1858.50

Key levels

• 1902.50, 1875.25, 1858.50, 1846.75, 1831.80, 1810.75, 1785.95

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1846.75, with Take Profit of 1831.80 and Stop Loss of 1858.50

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1858.50, with Take Profit of 1875.25 and Stop Loss of 1846.75