Technical analysis XAUUSD for 20.01.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains 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 1827. The closest resistance is the level 1842

Key levels

• 1871, 1859, 1842, 1827, 1815, 1800, 1788, 1775, 1758

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1842, with Take Profit of 1859 and Stop Loss of 1827

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1827, with Take Profit of 1815 and Stop Loss of 1838