Technical analysis XAUUSD for 30.08.2022

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 traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 1740.30. The closest support is the level 1727.50

Key levels

• 1758.90, 1750.90, 1740.30, 1727.50, 1718.50, 1709.80

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1740.30, with Take Profit of 1750.90 and Stop Loss of 1732.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1727.50, with Take Profit of 1718.50 and Stop Loss of 1732.00