Technical analysis XAUUSD for 09.08.2022

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 1790. The closest resistance is the level 1798

Key levels

• 1808, 1798, 1790, 1781, 1771, 1754

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1790, with Take Profit of 1808 and Stop Loss of 1781

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1781, with Take Profit of 1771 and Stop Loss of 1790