Technical analysis XAUUSD for 15.12.2021

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 turned over from descending to ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. Strong resistance is the merged Tenkan-se and Kijun-sen lines. The closest support is the level 1760

Key levels

• 1875, 1840, 1820, 1800, 1780, 1760, 1740

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1780, with Take Profit of 1800 and Stop Loss of 1760

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1760, with Take Profit of 1740 and Stop Loss of 1780