XAUUSD - 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. It 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 are extremely volatile and can cause aggressive swings in price.

Really short FOMC Report today as we're already taking advantage of the range and shorting from above.

Illustrated on the chart are the key levels to look for if there is an FOMC move! Its likely to be priced in, however, the press conference with Powell after the statement may move the market. We'll be looking again for extreme levels to long or short the market, anything in between we'll leave for intraday trading as we don't really want to get caught mid-move.

From Camelot this morning:

XAUUSD 02/11/22 1H

Support: 1639 / 1635 / 1630 / 1624 / 1620 / 1613

Resistance: 1645 / 1654 / 1667 / 1670 / 1675 / 1681

KOGs Bias for the day:

Bearish below 1655 with targets below 1630 and below that 1613

Bullish on break of 1655 with targets above 1665 and above that 1680

Summary:

Excalibur target above which we said yesterday was likely. Let’s see how the price reacts around the 60-65 region if it gets there. Plan remains the same until we break and hold above the key level.

FOMC today so please take it easy on the markets. Don’t risk your accounts for one hit wonder trades!


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As always, trade safe.

KOG