Main scenario: consider short positions from corrections below the level of 2008.75 with a target of 1910.48 – 1889.05.
Alternative scenario: breakout and consolidation above the level of 2008.75 will allow the pair to continue rising to the levels of 2060.00 – 2110.00.
Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart. The fifth wave (5) is unfolding, with the first wave 1 of (5) formed as its part. Apparently, a descending correction finished developing as second wave 2 of (5) on the H4 chart, and the third wave 3 of (5) started forming. The first counter-trend wave of smaller degree i of 3 is formed on the H1 chart, and a local correction is developing as the second wave ii of 3. If the presumption is correct, the pair will continue to drop to the levels of 1910.48 – 1889.05. The level of 2008.75 is critical in this scenario as a breakout will enable the pair to continue rising to the levels of 2060.00 – 2110.00.
Price chart of XAUUSD in real time mode
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منبع: https://www.litefinance.org/blog/analysts-opinions/xauusd-elliott-wave-analysis-and-forecast-for-031123-101123/
