Technical analysis XAUUSD for 06.12.2021

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1780. The closest resistance is the level 1800

Key levels

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

Trading scenario

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

Alternative scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 1800 and Stop Loss of 1774