Technical analysis XAUUSD for 16.03.2022
The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below 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 below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1944.25. The closest support is the level 1913.75
Key levels
- 2059.50, 2019.20, 1993.80, 1973.60, 1944.25, 1913.75, 1878.15
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1913.75, with Take Profit of 1878.15 and Stop Loss of 1944.25
Alternative scenario
- Recommended opening long positions (Buy Limit) from the level of 1878.15, with Take Profit of 1913.75 and Stop Loss of 1870.00
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.