Technical analysis XAUUSD for 18.05.2023
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 support is the level 1945. The closest resistance is the level 1960
Key levels
- 1990, 1975, 1960, 1945, 1929
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1945, with Take Profit of 1929 and Stop Loss of 1960
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1960, with Take Profit of 1975 and Stop Loss of 1945
Scenario
Recommendation
SELL STOP
Entry Point
1945
Take Profit
1929
Stop Loss
1960
Key Levels
1990, 1975, 1960, 1945, 1929
Alternative scenario
Recommendation
BUY STOP
Entry Point
1960
Take Profit
1975
Stop Loss
1945
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
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.