Technical analysis XAUUSD for 04.02.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is descending. Instrument entered the cloud. The closest support is the level 1798.50. The closest resistance is the level 1808

Key levels

• 1853.00, 1835.00, 1827.00, 1817.00, 1808.00, 1798.50, 1790.00, 1780.00

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 1790.00 and Stop Loss of 1817.00

Alternative scenario

• Recommended opening long positions (Buy Limit) from the level of 1790, with Take Profit of 1808 and Stop Loss of 1780