Yesterday, the XAU/USD traded higher and closed the day in positive territory near the price of 1933. Today, gold, on the contrary, fell a little, dropping to the level of 1931. On the hourly chart, XAU/USD is still trading above the moving average line MA (200) H1 (1919) . The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and while gold remains above MA 200 H1, it may be necessary to look for entry points to buy when a correction is formed.
Probably, the main scenario is the resumption of the upward movement to $1934 (session high).
The alternative scenario involves a breakout of the MA 200 H1 level followed by a decline to $1901 (Sep 14 low).
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