Technical analysis XAUUSD for 17.02.2022

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 1874.25. The closest resistance is the level 1892

Key levels

• 1907.50, 1892.00, 1874.25, 1852.00, 1835.75, 1821.50, 1802.50, 1788.00, 1760.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1892.00, with Take Profit of 1907.50 and Stop Loss of 1878.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1874.25, with Take Profit of 1852.00 and Stop Loss of 1892.00