Technical analysis XAUUSD for 10.12.2021

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the top of the cloud. The closest resistance is the level 1780

Key levels

• 1875, 1840, 1820, 1800, 1780, 1760, 1740, 1720

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1760, with Take Profit of 1740 and Stop Loss of 1770

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1780, with Take Profit of 1800 and Stop Loss of 1770