Home News XAUUSD: Elliott wave analysis and forecast for 02.12.22 – 09.12.22

XAUUSD: Elliott wave analysis and forecast for 02.12.22 – 09.12.22

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Main scenario: consider long positions from corrections above the level of 1737.82 with a target of 1851.11 – 1920.84.

Alternative scenario: breakout and consolidation below the level of 1737.82 will allow the pair to continue declining to the levels of 1687.65 – 1616.96.

Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart, with wave С of (4) completed inside. The fifth wave (5) appears to be forming on the H4 chart, with the first counter-trend wave of smaller degree i of 1 of (5) continuing unfolding as its part…. Read full author’s opinion and review in blog of #LiteFinance



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