XAUUSD: Elliott wave evaluation and forecast for 02.09.22 – 09.09.22

XAUUSD: Elliott wave evaluation and forecast for 02.09.22 – 09.09.22

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Predominant state of affairs: take into account lengthy positions from corrections above the extent of 1679.60 with a goal of 1879.10 – 1997.97.

Different state of affairs: breakout and consolidation beneath the extent of 1679.60 will permit the pair to proceed declining to the degrees of 1650.00 – 1602.00.

Evaluation: a descending correction seems to have fashioned because the fourth wave (4) of bigger diploma on the each day chart, with wave С of (4) accomplished inside. The fifth wave (5) seems to be forming on the H4 chart, with the primary counter-trend wave of smaller diploma i of 1 of (5) accomplished as its half. An area correction completed creating because the second wave ii of 1 on the H1 chart, with wave (с) of ii fashioned as its half. If the presumption is appropriate, the pair will proceed to rise to the degrees of 1879.10 – 1997.97. The extent of 1679.60 is vital on this state of affairs as its breakout will allow the pair to proceed declining to the degrees of 1650.00 – 1602.00.



Worth chart of XAUUSD in actual time mode

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