STRATEGY:

Main Scenario: As long as Gold  stays below 1793,  the main trend will be downwards. Then the precious metal may down to 1758 price level

Target Expectation: 1758

Considerations Supporting The Scenario: 

Gold prices eased on Wednesday as traders cautiously awaited the outcome of the U.S. Federal Reserve policy meeting where the central bank is likely to announce tapering of its economic support and also address growing inflationary risks.

Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1793

Alternative Target Expectation: 1799