Technical analysis XAUUSD for 02.06.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are directed upwards. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1862. The closest resistance is the level 1875

Key levels

• 1905, 1875, 1862, 1849, 1830, 1815, 1800

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1862, with Take Profit of 1830 and Stop Loss of 1862

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1875, with Take Profit of 1905 and Stop Loss of 1862