XAUUSD 1H - Levels

Quick update from us to close the week.

Its been a very difficult ranging market to trade with targets above and below all being reached but with some aggressive swings in between. We’re still stuck in the range with open targets above at 1795-7, 1804 and above that 1814. We have targets below at 1765 and below that the level we were looking for of 1735-40. We will remain with our bearish bias on this as mentioned in the KOG Report as long as the price doesn’t close above the 1795-97 price level. You can see the small breakout which has opened up those higher targets again but our thoughts are they are most likely to close the week around this region. Potential movement to look out for is illustrated on the chart with immediate resistance being the 1785-87 level.

We’ll be back on Sunday with the KOG Report as usual. Wishing all our followers a good weekend.

KOG

Comment:

The best way to trade this is level to level. Don't try and catch the ride up or down and don't wait for key level. Get an entry, protect it and come out with your profits. We could this kind of ranging price action all the way to FOMC next week so trade it cautiously.