The XAU/USD traded higher yesterday and closed the day in positive territory around 1919. Gold also rose slightly today, rising to 1926. On the hourly chart, XAU/USD is still trading above the MA (200) H1 (1903) moving average line. . The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and while gold remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
Probably, the main scenario is a continuation of the upward movement to $1926 (Aug 28 high).
The alternative scenario is a break of the MA 200 H1 level, followed by a fall to $1885 (Aug 21 low).
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