Technical analysis XAUUSD for 01.09.2022
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 trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1705.00. The closest resistance is the level 1711.00

Key levels
- 1745.50, 1730.50, 1721.00, 1711.00, 1705.00, 1696.50, 1685.00
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1705.00, with Take Profit of 1696.50 and Stop Loss of 1711.00
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1711.00, with Take Profit of 1721.00 and Stop Loss of 1705.00