Technical analysis XAUUSD for 02.03.2022
The Tenkan-sen line is located below 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 is located below 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 ready to roll over from ascending to descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1940. The closest resistance is the level 1958
Key levels
- 1980, 1958, 1940, 1920, 1898, 1875, 1851, 1827, 1810
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1940, with Take Profit of 1920 and Stop Loss of 1958
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1958, with Take Profit of 1975 and Stop Loss of 1945
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.