Technical analysis XAUUSD for 16.06.2023
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1957. The closest resistance is the level 1964
Key levels
- 1977, 1971, 1964, 1957, 1953, 1947
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1957, with Take Profit of 1953 and Stop Loss of 1961
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1964, with Take Profit of 1971 and Stop Loss of 1957
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.