Yesterday, the с traded lower and closed the day in the red around the 1939 price. Today, gold traded in a tight 1938-1943 range, remaining near a 5-week high. On the hourly chart, XAU/USD is still trading above the MA (200) H1 (1919) 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 the continuation of the upward movement to $1947 (Aug 31 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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