Technical analysis XAUUSD for 28.10.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1661. The closest resistance is the level 1670

Key levels

• 1688, 1678, 1670, 1661, 1653, 1644

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1661, with Take Profit of 1670 and Stop Loss of 1653

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1653, with Take Profit of 1644 and Stop Loss of 1661