Technical analysis XAUUSD for 17.01.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1813. The closest resistance is the level 1831

Key levels

1850, 1843, 1831, 1813, 1801, 1792, 1783, 1771.50, 1753

Trading scenario

Recommended opening short positions (Sell) at the current price, with Take Profit of 1801 and Stop Loss of 1831

Alternative scenario

Recommended opening long positions (Buy Stop) from the level of 1831, with Take Profit of 1843 and Stop Loss of 1820