Technical analysis XAUUSD for 13.10.2022

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 1647. The closest resistance is the level 1660

Key levels

• 1673, 1660, 1647, 1636, 1622

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1647, with Take Profit of 1636 and Stop Loss of 1654

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1660, with Take Profit of 1673 and Stop Loss of 1647