Technical analysis for XAUUSD 18.11.2021
The Tenkan-sen line crosses bottom upward the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line crosses bottom upward the Kijun-sen line. Red is directed upwards, while blue remains 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 top of the cloud. The closest resistance is the level 1873.26
Key levels
1840.80, 1845.60, 1850.65, 1856.00, 1861.55, 1867.40, 1873.55, 1878.60
Trading scenario
- Recommended opening long positions (Buy) at the current price, with Take Profit of 1873.25 and Stop Loss of 1873.25
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1855.00, with Take Profit of 1845.80 and Stop Loss of 1845.80
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.