Technical analysis XAUUSD for 06.06.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is ascending. Instrument adjusted to the upper border of the cloud. The closest support is the level 1848.00. The closest resistance is the level 1862.30

Key levels

• 1910.00, 1880.00, 1862.30, 1848.00, 1833.50, 1815.50, 1798.70

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1862.30, with Take Profit of 1880.00 and Stop Loss of 1848.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1848.00, with Take Profit of 1815.50 and Stop Loss of 1862.30