XAUUSD - Daily KOG Report

Last week we identified Gold breaking out of the liquidity zone and the potential for us to see higher pricing during the week before a decline. We suggested a scenario where we could see the 1910 levels before coming back down to target the liquidity zone. The move happened near enough just as we wanted it to. Now, if this is going to do what we think it is we would expect the price to either range here for a day or so, or come back down towards the 1860-70 levels and then find some support. The structure is showing that there is a price point around the 1920 level which we need to keep an eye on. We would look for support around that level and then look to target the 1890-95 levels initially. We still have lower levels we’re looking at as per our previous analysis but we’re going to take this day by day. As we usually do we will update our ideas as we start the week.

This all depends on the following key levels being respected as support of resistance:

Key support - 1865
Key resistance – 1895

Support:
1880-75
1863-60
1850-45

Resistance:
1885
1896-99
1908-12
1924
1948-55

As always, trade safe.

KOG