XAUUSD: Elliott wave analysis and forecast for 31.03.2023 – 07.04.2023
Main scenario: consider long positions from corrections above the level of 1941.97 with a target of 2050.00 – 2100.00. Alternative scenario: breakout and consolidation below the level of 1941.97 will allow the pair to continue declining to the levels of 1888.37 – 1859.35. Analysis: on the daily chart, a downside correction presumably finished developing as the fourth wave of larger degree (4), and the fifth wave (5) is forming. Apparently, the first wave of smaller degree 1 of (5) is formed and a local correction is completed as second wave 2 of (5) on the H4 chart. The third wave... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions from corrections above the level of 1941.97 with a target of 2050.00 – 2100.00.
Alternative scenario: breakout and consolidation below the level of 1941.97 will allow the pair to continue declining to the levels of 1888.37 – 1859.35.
Analysis: on the daily chart, a downside correction presumably finished developing as the fourth wave of larger degree (4), and the fifth wave (5) is forming. Apparently, the first wave of smaller degree 1 of (5) is formed and a local correction is completed as second wave 2 of (5) on the H4 chart. The third wave... Read full author’s opinion and review in blog of #LiteFinance
