XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

We suggested yesterday that if the price stayed below the 1790 level then we would be looking at the 1770 level and then a potential reaction in price. The move down gave a good capture as well as the quick bounce of the 1770 support. We still have that region below where there is potential for the price to target in the remainder of the sessions before potentially starting to range pre-event. The range still stands with the lower support level looking like an opportunity, however, breaking the level will take this into the 1760-55 price region so please be careful. We're going to take it easy now ahead of the news tomorrow so any trades will be protected and we're not going to be committing the market until tomorrow.

From Camelot this morning:

XAUUSD 16/08/22 1H

Support: 1775 / 1772 / 1768 / 1760 / 1759 / 1755

Resistance: 1779 / 1785 / 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:

We should see this settle at some point today in preparation for tomorrow. Expect a swoop and undercut low before a potential ascend towards the MA’s above. Targets below are all complete apart from the one so keep an eye on it.