XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

ITS FOMC! No FOMC report today as we're not going to be trading the event, so we wouldn't want to give ideas we're not trading ourselves. Instead, we'll share the 4H KOG Report chart with the levels we were looking for together with the bias shared this morning.

XAUUSD 12/10/22 1H

Support: 1665 / 1660 / 1657 / 1653 / 1647

Resistance: 1670 / 1674 / 1677 / 1685

KOGs Bias for the day:

Bearish below 1685 with targets below 1657, 1647 and below that 1635

Bullish on break and close of 1685 with targets above 1695 and above that 1704

Summary:

Same levels as yesterday due to being in the same range. Key level resistance stands at 1680-85 with support below at 1660-65. We would suggest caution today as we’re in pre-event market conditions with a potential market moving event later today. We should just see price range tight now so there are likely to be no opportunities unless you’re scalping. This entails smaller stops and strict risk management. We have our Excalibur target below with no activations for any longs at the moment.