XAUUSD 1H - Levels - Update:

Yesterday we said we were expecting this to go down on open, what we didn't expect was what can only be explained as total manipulation by the powers that be! Technically the chart is still adhering to the levels, but the flush would have caused some buyers and sellers serious problems.

Today, we're looking for this to hold at the 1740 level and below that around 1730. We would expect this to potentially go and target the the higher levels of 1770 and above that 1785. Having said that, we're not trading it. We would rather wait for the price to settle and stay away from getting caught in another flush. As we said, institutional selling doesn't usually stop in one day so lets play it safe troops.

1730-40 is key here, breaking this level will likely lead the price to suffer more declines and target that lower wick on the 4H chart again taking with it all the buyers