Technical analysis XAUUSD for 14.09.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1696.50. The closest resistance is the level 1705.00

Key levels

• 1745.50, 1730.50, 1721.00, 1705.00, 1696.50, 1685.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1705.00, with Take Profit of 1721.00 and Stop Loss of 1696.50

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1696.50, with Take Profit of 1685.00 and Stop Loss of 1705.50