GoldViewFX - Market UPDATE

Hey Everyone,

After hitting our first target of 1857 yesterday our last target of 1863 on this setup was not hit today but instead News related volatility drove the price down. We were and are expecting swings due to Powell's two day testimony, which will trigger heavy volatility like today.

We took out any longs from the top and will look to ride back up when volatility settles into organic technical movement.

However, as you can see our 1H chart setup still allowed us to track the movement of the volatility by first breaking the 1845 level with EMA5 confirming the swing range and now the swing range break opening the critical support structure.

Its wise to take extra caution by keeping positions light this week to be able to manage the extreme volatility. If the support structure holds, we should see a back to benchmark move, unless tomorrows volatility breaks through the structure. We will update the range and levels should this break.

BULLISH TARGETS
1857 - DONE
1863

BEARISH TARGETS
1852 - DONE
1845 - DONE

SWING RANGE
1825 - DONE

As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!

GoldViewFX
XAUUSD TOP AUTHOR