XAUUSD - KOG REPORT UPDATE:

Quick end of day update from us here at KOG:

Its been a great week so far with the short levels being hit as well as capturing the retracements with the small longs. We suggested earlier in the week that we will be shorting this level to level with the plan to take a long entry to go back up towards demand. We got a nice short yesterday from the 1745 region which has given over 400pips on the move. Perfect end to the day!

We would suggest caution with shorts as we want to see how we close, illustrated on the chart is what we feel the potential move to come is over the Asian session.

From Camelot this morning:

XAUUSD 14/07/22 1H

Support: 1714 / 1710 / 1705 / 1695 / 1692

Resistance: 1731 / 1735 / 1745 / 1754

KOGs Bias for the day:

Bearish below 1740 with targets below 1720, 1710 and below that 1696

Bullish on break of 1740 with targets above 1754, 1763 and above that 1775

Summary:

This is the move that should have happened before the Cpi release. We have a target below which is sitting just below 1700, look for support around there if it gets there! We’re not going to short this low down anymore, the 1745 entry from yesterday was ideal. Shorts, if you’re going to, level to level please. Use the 15M levels.