XAUUSD - KOG REPORT UPDATE:

Pre-event update:

Gold has now settled within the range we anticipated 1920 to 1930-35 accumulating before the FOMC release later today. We can see a slight IHS on the 4H chart, however, this is typical of pre-event price action, they will give you conflicting signals and then potentially move the market the opposite way!

Either use the levels to scalp or simply sit it out and avoid the mid-range chop. We'll be back later with our views.

As always, trade safe.

KOG