Technical analysis XAUUSD for 09.09.2024

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines

Key levels

2480, 2489.2505,2511,2525

Trading scenario

Recommended opening long positions (Buy Limit) from the level of 2489, with Take Profit of 2505 and Stop Loss of 2480

Alternative scenario

Recommended opening short positions (Sell Limit) from the level of 2505, with Take Profit of 2485 and Stop Loss of 2520