Technical analysis XAUUSD for 27.03.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1972.60. The closest support is the level 1933.80

Key levels

• 2024.30, 1999.30, 1972.60, 1933.80, 1909.50, 1877.85

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1972.60, with Take Profit of 1999.30 and Stop Loss of 1954.50

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1933.80, with Take Profit of 1909.50 and Stop Loss of 1954.50