Technical analysis XAUUSD for 11.08.2022

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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1790. The closest resistance is the level 1798

Key levels

• 1825, 1808, 1798, 1790, 1781, 1771, 1754

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 1781 and Stop Loss of 1798

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1798, with Take Profit of 1808 and Stop Loss of 1790