Technical analysis XAUUSD for 07.12.2021
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1780. The closest resistance is the level 1800
Key levels
1875, 1840, 1820, 1800, 1780, 1760, 1740
Trading scenario
Recommended opening short positions (Sell Stop) from the level of 1760, with Take Profit of 1740 and Stop Loss of 1780
Alternative scenario
Recommended opening long positions (Buy Stop) from the level of 1820, with Take Profit of 1840 and Stop Loss of 1800
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.