Technical analysis XAUUSD for 06.05.2022
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 trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1870.00. The closest resistance is the level 1879.60
Key levels
- 1919.90, 1904.40, 1895.10, 1887.10, 1879.60, 1870.00, 1855
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1870.00, with Take Profit of 1855.00 and Stop Loss of 1879.60
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1879.60, with Take Profit of 1895.10 and Stop Loss of 1870.00