XAUUSD - KOG REPORT - FOMC!

KOG REPORT – FOMC!

This is our view for FOMC today, please do your own research and analysis to make an informed decision on the markets. Its is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets can be extremely volatile and these events can cause extreme swings in the price.

We didn’t expect there to this much of a move Pre-FOMC but we did warn members the US session could move the market.

As usual we’re going to look at this with two scenarios in mind:

Scenario 1:

The price goes up from where we are, we will look for resistance 1 around the 1780-85 region, if we see strong resistance here this could represent an opportunity to short the market back down towards the 1750 region as the first target. Breaking the 1785 level to the upside and we will wait for higher up to short the market again.

Scenario 2:

The price goes down towards the 1750-45 level and we face strong support here, this could represent an opportunity to long the market back up towards the 1780-85 region as the first target. Breaking the 1750-45 level will push the price to the lower level of 1735-30 where we can look for support again.

Levels:

Support:
1750-52
1730-35

Resistance:
1780-85
1805-7
1810-16 (Excalibur)

We have some targets above so we would expect there to be a bit of a bull rally at some point in the coming sessions. Please remember we also have NFP this week so there is more of this choppy price action and aggressive swings to come!

As always, trade safe.

KOG