Technical analysis XAUUSD for 07.10.2022
The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1711. The closest resistance is the level 1705
Key levels
- 1730.50, 1721, 1711, 1705, 1696.50, 1685
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 1711, with Take Profit of 1721 and Stop Loss of 1705
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 1705, with Take Profit of 1696.50 and Stop Loss of 1711
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.