Technical analysis XAUUSD for 22.08.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1732. The closest resistance is the level 1745

Key levels

• 1795, 1775, 1761, 1745, 1732, 1713

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1745, with Take Profit of 1761 and Stop Loss of 1732

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1732, with Take Profit of 1713 and Stop Loss of 1745