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XAUUSD – KOG REPORT UPDATE: for OANDA:XAUUSD by KnightsofGold

Quick end of day update from us here at KOG:

So we got the move to the downside that we wanted but Gold broke the immediate support we illustrated and wanted in order to take this back up above 1800. Its still moving in the longer term timeframes roadmap and plan but we need to see this grab that liquidity from above at some point. Therefore, we would say look for reactions in price at the identified levels, below 1790 resistance we’re still on for lower, above 1770 support we’re still on for higher. These two price points could now be the range that will be used pre-event.

From Camelot this morning:

XAUUSD 15/08/22 1H

Support: 1782 / 1772 / 1768 / 1760 / 1759 / 1755

Resistance: 1792 / 1795 / 1797 / 1802 / 1806 / 1810

KOGs Bias for the day:

Bullish above 1775 with targets above 1792 and above that 1797

Bearish on break of 1775 with targets below 1768 and below that 1760

Summary:

Aggressive morning moves from Gold breaking the support level we initially thought would hold for them to take this back up. At the moment its looking like it wants lower so please trade carefully, we have a target which has just been hit, ideally wanted to get in higher for this. Another target lower down, so let’s see how the resistance levels hold.

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