Technical analysis XAUUSD for 11.10.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1662. The closest resistance is the level 1672

Key levels

• 1730, 1710, 1700, 1685, 1672, 1662, 1672, 1662, 1641

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 1685 and Stop Loss of 1662

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1662, with Take Profit of 1641 and Stop Loss of 1672