Technical analysis XAUUSD for 19.12.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1776.00. The closest resistance is the level 1796.75

Key levels

• 1832.00, 1812.50, 1796.75, 1776.00, 1758.50, 1737.00

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 1776.00 and Stop Loss of 1796.75

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1796.75, with Take Profit of 1812.50 and Stop Loss of 1785.60