Technical analysis XAUUSD for 03.01.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1820. The closest resistance is the level 1840

Key levels

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

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1820, with Take Profit of 1840 and Stop Loss of 1800

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1800, with Take Profit of 1780 and Stop Loss of 1820