XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

We can see price went up into the resistance level we illustrated yesterday and turned. Its giving quite a bearish reversal from the level but its left a bit of a mess above. Right now, we're looking for resistance to hold above for this to continue to the downside and continue with the daily KOG Report plan for lower pricing. We are however, going to be cautious here with the short trades as there can be another swoop of liquidity from above before then coming back down. Lets see how we close today on the daily.

From Camelot this morning:

XAUUSD 08/09/22 1H

Support: 1710 / 1708 / 1705 / 1701 / 1697 / 1694 / 1690

Resistance: 1720 / 1726 / 1730 / 1745

KOGs Bias for the day:

Bearish below 1730 with targets below 1710 and below that 1690

Bullish on break of 1735 with targets above 1740 and above that 1746

Summary:

Daily is switching to temporarily bullish so there’s a chance we’re going to see some upside momentum, there’s also that gap around 1726 which we’ve shown on the 15M chart. We have a lot of news later as well as the ECB rate decision and a Powell speech. There is going to be volatility across the markets so these swings into key liquidity regions will be likely.