Fundamental analysis of XAU/USD

Gold prices (XAU/USD) are showing signs of recovery, having reached the 1900.00 level, but the visible recovery is mainly due to the weakening US dollar. These conditions, combined with further dollar correction, could trigger a strong rally in the gold sector. Market participants are eagerly awaiting comments from Fed Chairman Jerome Powell at a symposium in Jackson Hole, which may provide some insight into the Fed's stance on interest rates. 
Complicating matters further, recent developments in the gold market are taking place against a backdrop of declining ETF attractiveness, suggesting that investor sentiment towards gold could turn bearish in the near term. Meanwhile, external factors such as concerns about China, which is one of the main consumers of gold, and concerns about the US banking industry due to a downgrade are currently driving market sentiment. 
In this environment, the US Dollar Index (DXY) has fallen for the second consecutive day and is currently near 103.10. Similarly, the 10-year US Treasury bond yield recently hit a high of 4.36% before declining slightly. Market movements also saw S&P 500 Index futures suffer minor losses, reversing a previous rally from a nine-week low. 
The complex interplay of these economic indicators has led to a period of uncertainty and expectations as stakeholders await clearer clues from central banking authorities and market developments.
  
Technical Analysis and Scenarios:

The "alligator" indicates a flat trend: when it is "asleep", price movement is minimal. The intertwined moving averages signal that there is no strong trend in the market at present. Both AO and AC are in the gray zone, demonstrating divergence. In normal technical analysis, this may indicate a possible change in the current trend, but it should be kept in mind that such a divergence alone is not a strong enough signal to determine the direction of change.
Main scenario (BUY)
Recommended entry level: 1906.00.
Take Profit: 1915.00.
Stop Loss: 1900.00.
 
Alternative scenario (SELL)
Recommended entry level: 1894.00.
Take Profit: 1885.00.
Stop-loss: 1900.00.