Foremost situation: contemplate lengthy positions from corrections above the extent of 1615.85 with a goal of 1761.80 – 1805.30.
Different situation: breakout and consolidation under the extent of 1615.85 will permit the pair to proceed declining to the degrees of 1570.70 – 1491.84.
Evaluation: a bearish correction presumably continues growing because the fourth wave of bigger diploma (4) on the every day chart, with wave C of (4) persevering with to kind inside. Apparently, the third wave iii of C is shaped on the H4 chart, and an area correction is unfolding because the fourth wave iv of C. Wave (а) of iv is shaped, wave (b) of iv presumably completed growing, and wave (c) of iv began unfolding on the H1 chart. If the presumption is right, the pair will proceed to rise to the degrees of 1761.80 – 1805.30. The extent of 1615.85 is crucial on this situation as a breakout will allow the pair to proceed declining to the degrees of 1570.70 – 1491.84.
Value chart of XAUUSD in actual time mode
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