Essential situation: contemplate lengthy positions from corrections above the extent of 1688.36 with a goal of 1879.10 – 1997.97.
Different situation: breakout and consolidation beneath the extent of 1688.36 will permit the pair to proceed declining to the degrees of 1650.00 – 1601.03.
Evaluation: a descending correction seems to have shaped because the fourth wave (4) of bigger diploma on the every day chart, with wave С of (4) accomplished inside. The fifth wave (5) seems to be forming on the H4 chart, with the primary counter-trend wave of smaller diploma i of 1 of (5) accomplished as its half. On the H1 chart, an area correction completed forming because the second wave ii of 1, and the third wave iii of 1 began unfolding, with wave (i) of iii creating as its half. If the presumption is appropriate, the pair will proceed to rise to the degrees of 1879.10 – 1997.97. The extent of 1688.36 is important on this situation as its breakout will allow the pair to proceed declining to the degrees of 1650.00 – 1601.03.
Value chart of XAUUSD in actual time mode
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