Technical analysis XAUUSD for 31.01.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1786. The closest resistance is the level 1800

Key levels

• 1846, 1826, 1810, 1800, 1786, 1770, 1750

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1786, with Take Profit of 1770 and Stop Loss of 1800

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1810, with Take Profit of 1826 and Stop Loss of 1795