Price Of Gold (XAUUSD) KOG Report – FOMC – What’s to come!

USD/JPY: Japanese Authorities Signal Intervention Amid Rapid Currency Appreciation

KOG Report – FOMC – What’s to come! - 1

https://www.tradingview.com/chart/XAUUSD/jSTfZpt9-XAUUSD-KOG-REPORT-FOMC/

This is our view for FOMC today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile and can cause aggressive swings in price.

We’re going to keep it short for this report as we’re not really changing our plan from the KOG Report and daily analysis which has been shared here over the course of the week. We’ve already hit the higher level where we suggested shorting the market which gave a decent return on yesterday’s move. We are expecting the range to potentially break with hopefully an upside swoop on liquidity before testing the lower levels that are illustrated on the chart. We will be looking for the price to stay below the 1950-60 price point, the price region is 100pips because this is FOMC and being a high-volume event (usually), the market can surpass levels with aggressive spikes.

So, we will look at this with two scenarios in mind with the bias being towards the move upwards first!

Scenario 1:

The price pushes up into that 1945-50 and above that 1955-60 price region, these areas we feel would represent an opportunity to short the market back down into the 1930, 1920 and below that 1903 price points initially. Once the entry is placed and in profit we will take partials along the way and protect the trade.

Scenario 2:

Price pushes down. In this scenario we will wait for the lower levels of 1885-7 and below that 1860-65 for the price to exhaust and then we feel this price points would represent an opportunity to go long on the market back up towards the 1910 and above that 1920 price points.

This could again be an anti-climax like we've seen recently as these rate hikes have been priced in. What the market will be waiting for is the press conference which will be around 19:30 UK time where Powells responses can move the markets.

In our opinion the best way to trade this is not to. Stay out until tomorrow, they will move the market to where they want to buy or sell it, that’s what we as traders should do to, wait for them to move the market, let it find its base and then think about taking the trade.

Our immediate target level is around 1945 so we’re hoping this target is completed at some point today.

USD/JPY: Japanese Authorities Signal Intervention Amid Rapid Currency Appreciation

Knights of Gold

-Technical Traders of Precious Metals and Currencies. specialist in Gold. -TradingView Top Author #XAUUSD