STRATEGY:

Main Scenario: As long as Gold  stays above 1770  the main trend will be still upwards. Then the precious metal may go down to  to 1790 price level

Target Expectation: 1790

Considerations Supporting The Scenario: 

Gold prices fell to a one-week low on Wednesday, weighed down by firmer U.S. Treasury yields with investors awaiting policy cues from the Federal Reserve’s statement, while palladium eased after scaling a record high in the last session.

Alternative Scenario: An alternative expectation may be taken into account in case of a close below 1770

Alternative Target Expectation: 1762