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. A downside correction is presumably completed as second wave 2 of (5) on the H4 chart. The third wave 3 of (5) started unfolding, with the first counter-trend wave of smaller degree i of 3 formed as its part. The H1 time frame shows development of a downside correction in the form of second wave ii of 3. As part of it there formed waves (a) of ii and (b) of ii, and wave (c) of ii started unfolding. 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 growing 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-241123-011223/
