XAUUSD - KOG REPORT UPDATE:

End of day update from us here at KOG:

We got the move down in to the support region which was expected. We mentioned in the KOG Report to look for the retest of the low and if supported we should get the long trade into the higher resistance levels which gave a decent capture but couldn't be held. We can now see price is settling into a range and pre-event price action is slowly drawing MA's together unless there is a late session move due to it being the last trading day of the month. Levels are on the chart as well as the potential move inside the range.

From Camelot this morning:

XAUUSD 31/10/22 1H

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

Resistance: 1640 / 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:

The range is getting bigger, so the moves are going to be bigger. This needs a retracement so look for the 1640-45 level as per the analysis posted on this group yesterday. We would expect this to try and bring MA’s together pre-event so be careful with shorting too low!