Technical analysis XAUUSD for 02.02.2022
The Tenkan-sen line crosses bottom upward the Kijun-sen line. Both lines are directed downward. 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 1780. The closest resistance is the level 1798.50
Key levels
- 1853.00, 1835.00, 1827.00, 1817.00, 1808.00, 1798.50, 1780.00, 1760.00
Trading scenario
- Recommended opening short positions (Sell) at the current price, with Take Profit of 1780.00 and Stop Loss of 1808.00
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1808.00, with Take Profit of 1827.00 and Stop Loss of 1798.50