THE KOG REPORT - Update

End of day update from us here at KOG:

Decent day on the markets with Gold hitting the bias level during the CPI move and giving traders a lovely TAP AND BOUNCE move upside into resistance. Star of the day today was EURUSD, a point to point, level to level move of over 100pips straight into our Excalibur target identified prior to CPI.

So, what now?

We're sticking with it for now, same update as previously with resistance now 2350 which will need to break to see 2380-85, and our support and target level way down below 2290-95 and below that 2255-60. We'll take it as it moves, longs level to level on the scalps, first destination expected around 2300 as long as we can break this 2330 level. Bounce higher, we'll see the 2380-85 regions and beyond this time! Our bias level is done now, we're not going to risk it again if approached.

Please see the CPI levels and hotspots, these for us are ideal RIP regions and preferred.

As always, trade safe.

KOG

Comment:

We're at the resistance level on Gold but price is hovering here, with support now playing the 2365-70 level and as long as we're above we could be looking at the higher level on the chart. Today, no longs on Gold, we'll wait and see what it does.