XAUUSD - KOG REPORT UPDATE:

Quick end of day update from us here at KOG:

The short worked a treat early hours into the lower support region where we were expecting a reaction in price. We updated traders suggesting the short was enough (100-140pips) and that we would not be going long on the market. Right now we would suggest caution as we could have some pre-event price action tomorrow so expect a range and a chop in the range. Resistance stands at 1714-16 with support at 1698-5. Spikes either side are likely with range high being 1730-35.

From Camelot this morning:

XAUUSD 05/10/22 1H

Support: 1710 / 1707 / 1702 / 1698 / 1695 / 1687 / 1680

Resistance: 1724 / 1730 / 1735 / 1737 / 1742

KOGs Bias for the day:

Bullish above 1705 with targets above 1720

Bearish on break of 1705 with targets below 1695 and below that 1685

Summary:

Pull back in play now finding support here but we want to see it break below this level. Will say long with caution unless this breaks and holds above 1730-35.