XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

A nice move on Gold completing the two Excalibur targets we identified on Sunday. As suggested, if you can leave a runner with an open TP on it and stop to entry, let's play the game the way we see it, up and down the KOG way. We now have immediate resistance around the 1960-65 level which should provide the retracement needed on the move but that level is key! Pre-event price action is in full effect so expect this to start the range in preparation for tomorrow's FOMC.

GOLD, AUDUSD, Oil, GJ, AUDJPY all ran nice and clean giving a huge pip capture for the day, so well done team on a great performance. Let's take it easy now and await what tomorrow brings with it. Will share the complete market analysis tomorrow across our main trading instruments so probably no morning review tomorrow.

From Camelot this morning:

XAUUSD 21/03/23 1H

Support: 1962 / 1955 / 1950

Resistance: 1970 / 1975 / 1985 / 1994 / 2002 / 2005 / 2018 / 2027

Price: 1966

KOG’s bias for the day:

Bullish above 1955 with targets above 1975 and above that 1997

Bearish on break of 1950 with targets below 1935

Summary:

Typical pre-event price action now with price starting to range close and drawing the hourly MA’s together. We’re towards the bottom of the trend with Excalibur below still active so potential for a bounce from one of the support levels unless broken. 1955-60 stand as key level support with the 1980 level as resistance, which will need to be broken to go higher. This could be the range we see now until tomorrow so it could be easier to use the 15m Red boxes for today and tomorrow.