STRATEGY:

Main Scenario: As long as Gold  stays below 1764,  the main trend will be still downwards. Then the precious metal may down to 1754 price level

Target Expectation: 1754

Considerations Supporting The Scenario: 

Gold was hovering around an over two-month low on Wednesday as investors awaited U.S. jobs data for further clarity on the Federal Reserve’s policy stance, with the precious metal heading for its worst monthly drop since November 2016

Alternative Scenario: An alternative expectation may be taken into account in case of a close above 1764

Alternative Target Expectation: 1767