XAUUSD 4H - Levels

XAUUSD –
DATE: 05/01/22

Support:
1814-16/1810//1806-4/1797-1800

Resistance:
1822-4/1830-33/1845

KOGs Bias for the day:
Positive above 1810-12 with targets of 1822-24 and above that 1830-33

Negative below 1806 with targets of 1800, 1797, 1785

We would like to see higher pricing in Gold but will be looking for the key levels above to short the market. We're taking long trades level to level while not exposing too much to the market and testing resistance levels with short trades. A break above 1835 will lead to higher pricing in Gold while a break below 1806-4 will lead to lower pricing. We're basically still within the range awaiting a strong breakout.

FOMC minutes later today so please trade carefully and try not to expose to much to the markets. There are plenty of opportunities to trade but the best ones will come to you, don't chase them.

We'll be back later with our FOMC report.

As always, trade safe.

KOG