Technical analysis XAUUSD for 25.10.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above 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 1644. The closest resistance is the level 1654

Key levels

• 1669, 1654, 1644, 1632, 1616

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1654, with Take Profit of 1669 and Stop Loss of 1644

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1644, with Take Profit of 1632 and Stop Loss of 1654