THE KOG REPORT: FOMC

FOMC – KOG Report:

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 these events can cause aggressive swings in price.

Immediate resistance stands here at the 1942-45 with a break entail the higher order region which is the completion of the move. Now, if they extend the move, it leads us into extreme level 1960-65 which is the last stand for bears to take over, any potential short, unless broken will likely see a reaction in price. A break of that level will then entail caution.

Immediate support stands at 1930-35 order region. Spike into that level with rejection, again takes us up before any attempt to come down.

In summary, below that higher resistance level and upon a break of order region 1930-35 we have the levels of 1925 and below that 1910. 1925-20 is an important level of support, breaking that level resumes the bearish move that completes way down into the 1900-1904 region.

This will probably last us the rest of the week, so keep an eye on the levels and take note of the range we have illustrated for you. A break either side is needed!

We have the following levels in mind for FOMC:

Resistance:
1947
1955
1962-55

Support:
1931
1926
1919

Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.

As always, trade safe.

KOG