Technical analysis XAUUSD for 14.07.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1705. The closest resistance is the level 1724

Key levels

• 1800, 1770, 1752, 1737, 1724, 1705, 1677

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 1677 and Stop Loss of 1724

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1724, with Take Profit of 1752 and Stop Loss of 1705