Technical analysis XAUUSD for 01.08.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument corrected to the Tenkan-se line. The closest resistance is the level 1765.80. The closest support is the level 1748.00

Key levels

• 1794.20, 1779.20, 1765.80, 1748.00, 1735.00, 1718.00

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1765.80, with Take Profit of 1779.20 and Stop Loss of 1755.50

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1748.00, with Take Profit of 1735.00 and Stop Loss of 1755.50