Technical analysis XAUUSD for 31.05.2022
Intraday
Technical
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1848. The closest resistance is the level 1865
Key levels
- 1880, 1865, 1848, 1835, 1817
Trading scenario
- Recommended opening long positions (Buy Limit) from the level of 1848, with Take Profit of 1865 and Stop Loss of 1835
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1835, with Take Profit of 1817 and Stop Loss of 1848
Scenario
Recommendation
BUY LIMIT
Entry Point
1848
Take Profit
1865
Stop Loss
1835
Key Levels
1880, 1865, 1848, 1835, 1817
Alternative scenario
Recommendation
SELL STOP
Entry Point
1835
Take Profit
1817
Stop Loss
1848
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
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.