Technical analysis XAUUSD for 10.01.2022

The Tenkan-sen line is located below 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 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

• 1840, 1820, 1800, 1780, 1760, 1740

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1780, with Take Profit of 1760 and Stop Loss of 1800

Alternative scenario

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