Technical analysis XAUUSD for 20.07.2022
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1702.75. The closest resistance is the level 1713.50
Key levels
- 1735.25, 1723.50, 1713.50, 1702.75, 1688.00
Trading scenario
- Recommended opening short positions (Sell Limit) from the level of 1713.50, with Take Profit of 1702.75 and Stop Loss of 1723.50
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1723.50, with Take Profit of 1735.25 and Stop Loss of 1713.50
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.