Main Scenario: As long as XAUUSD stays above 1926, the main trend will be still upwards on daily basis. Then the precious metal will be able to test 1951 and 1967 price levels.
Target Expectation: 1951
Considerations Supporting The Scenario: Dolar is getting stronger especially after better than expected ISM manufacturing PMI as well as unemployment claims published today . The Dolar index is up to 93 from two year lows. But as FED will sustain record low interest rates by giving priority to unemployment, Dolar’s strength may not last longer.
Alternative Scenario: An alternative expectation may be taken into account in case of a close below 1926
Alternative Target Expectation: 1909