Technical analysis XAUUSD for 08.06.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1848. The closest resistance is the level 1864

Key levels

• 1880, 1864, 1848, 1834, 1818

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1848, with Take Profit of 1864 and Stop Loss of 1834

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1834, with Take Profit of 1818 and Stop Loss of 1848