XAUUSD - KOG REPORT!

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19/03/22

KOG Report:

In last week’s KOG Report we said we would remain with the bias of bullish above the 1835 level and be looking to either take a short if the price went up in the early session down into the lower support regions or, look for the price to target the lower support regions before we see an opportunity to long the market into the higher resistance levels. We had the higher level of 1895 as the initial resistance level we were looking for and suggested that if we saw a reaction in price there we would be looking to short again. Once the level was broken through, we updated traders with the bias to suggest the next long targets would be 1910 and above that 1943 with the bias bullish above 1910.

Both these higher targets were achieved as well as the 1958 and 1967 targets we gave in Camelot. Although we’ve seen extreme movement in the markets with hardly any pullback on Gold, we still managed to complete 19 targets in Camelot across numerous pairs with Gold targets being hit consecutively.

So, what can we expect in the week ahead?

We’ll start by saying we have a very important FOMC this week so again, more chop, more whipsawing and more aggressive price action to come. Unless you’re in long from the 1835 level where we gave the bullish above bias initially, then probably not a good idea to go long up here. We have some higher targets now in reach which we had identified previously in Camelot. The stand above the 2000 level so there is potential for this to swoop the high before any attempt from the bears to step in and try to drive the retracement. We have the lower support levels now standing first at the 1965-70, 1950-55 level and below that the 1930-35 region. We would like to see the typical pre-event price action in the early part of the week so that should either entail a retracement back into these support regions before a range or, we’ll see the price hover and range up here between the key levels 1995-1960 drawing the mean to the upside in preparation for the any potential FOMC move. That’s if it’s not priced in already, so be careful!

Illustrated on the chart is what we feel the week ahead holds together with the key levels and potential target regions where we are likely to see a reaction in price. Potential for a glitch on open so the upper level of resistance is now the 1995-99 and above that 2003-7 level, below this level we feel could represent an opportunity to short the market down into the lower the support regions initially 1970 and below that 1965-60, this is where they could take price and hold it, based on the above pre-event price action. Now, the bullish above bias for this week stands a lot lower at the lower order region of 1935-30 which is what we feel they can target during the course of the week.

Weekly bias:

Bullish above 1930-35 with targets above 1999, 2003 and above that 2020
Bearish on break of 1935 with targets below 1910 and below that 1880

Huge range to play for the remainder of the month.

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As always, trade safe.

KOG

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ملاحظة

First level target level for the short trade here from 2005. Take partial and protect