Technical analysis XAUUSD for 28.09.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed upwards. 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 resistance is the level 1630.50. The closest support is the level 1615.20

Key levels

• 1646.50, 1639.10, 1630.50, 1615.20, 1604.80, 1593.90

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1630.50, with Take Profit of 1639.10 and Stop Loss of 1622.00

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1615.20, with Take Profit of 1604.80 and Stop Loss of 1622.00