Home News XAUUSD: Elliott wave analysis and forecast for 23.12.22 – 30.12.22

XAUUSD: Elliott wave analysis and forecast for 23.12.22 – 30.12.22

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Main scenario: consider short positions from corrections below the level of 1824.57 with a target of 1721.07 – 1696.78.

Alternative scenario: breakout and consolidation above the level of 1824.57 will allow the pair to continue rising to the levels of 1851.11 – 1920.84.

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. On the H4 chart, the fifth wave (5) seems to be in formation. The first counter-trend wave with a smaller degree i.1 of (5) has been completed. On… Read full author’s opinion and review in blog of #LiteFinance



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