Technical analysis XAUUSD for 16.08.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is ascending. Instrument entered the cloud. The closest support is the level 1781. The closest resistance is the level 1790

Key levels

• 1808, 1798, 1790, 1781, 1771, 1754

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 1771 and Stop Loss of 1790

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1790, with Take Profit of 1808 and Stop Loss of 1781