بروزرسانی: 24 خرداد 1404
XAUUSD: Elliott wave analysis and forecast for 09.02.24 – 16.02.24
Main scenario: consider long positions from corrections above the level of 2001.72 with a target of 2220.00 – 2300.00.
Alternative scenario: breakout and consolidation below the level of 2001.72 will allow the pair to continue declining to the levels of 1912.52 – 1809.00.
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 3 of (5) forming as its part. Apparently, the first wave of smaller degree i of 3 is forming on the H4 time frame, with a local corrective wave (iv) of i nearing completion as its part. Wave е of (iv) is presumably coming to its end on the H1 chart. If this assumption is correct, after its completion, the XAUUSD pair will continue to rise to 2220.00 – 2300.00. The level of 2001.72 is critical in this scenario as a breakout will enable the pair to continue falling to the levels of 1912.52 – 1809.00.
Price chart of XAUUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.
منبع: https://www.litefinance.org/blog/analysts-opinions/xauusd-elliott-wave-analysis-and-forecast-for-090224-160224/