XAUUSD - KOG REPORT UPDATE:

We're sharing the 4H chart from the KOG report that was published on Sunday so you can see how the price has played from the lower support up to the higher resistance and then back down into the lower support as the illustration on Sunday had suggested. The daily chart is also playing well from what was published and following along with our plans.

What we didn't get though is the lower region we wanted which now means that there could be some more bearish pressure on the cards next week! You can see Gold has been following our path and reports over the last few months showing lower pricing but we need to see this break and close below this 1735 region. Resistance now becomes the 1740-45 price zones which needs an aggressive move to break it but with Jackson Hole tomorrow as well there's a huge chance we're going to open with gaps on the markets on Sunday night. So try to protect trades before the close!

From Camelot this morning:

XAUUSD 25/08/22 1H

Support: 1750 / 1755 / 1753 / 1750 / 1735 / 1730

Resistance: 1755 / 1762 / 1767 / 1770 / 1775

KOGs Bias for the day:

Bullish above 1745 with targets above 1762 above that 1768

Bearish on break of 1745 with targets below 1735 and below that 1720

Summary:

Market are going to be very fragile today awaiting the Powel speech later this afternoon as well as with Jackson Hole in progress. We haven’t really experienced any aggressive movement so far so let’s see what the US session brings with it. Its very possible they’re going to move this late session so please be careful.