XAUUSD: Elliott wave research and forecast for 07.06.24 – 14.06.24
Primary situation: imagine lengthy positions from corrections above the extent of 2310.36 with a goal of 2500.00 – 2560.00.
Choice situation: breakout and consolidation underneath the extent of 2310.36 will permit the pair to proceed declining to the degrees of 2154.83 – 2019.86.
Research: the 5th wave of bigger level (5) is forming at the day-to-day chart, with wave 3 of (5) unfolding as its phase. It seems that, the 3rd wave of smaller level iii of three is forming at the H4 time period, with wave (iii) of iii and corrective wave (iv) of iii finished inside of. Wave (v) of iii is unfolding at the H1 time period, with wave i of (v) shaped, native corrective wave ii of (v) finished, and wave iii of (v) creating as its portions. If the presumption is proper, the XAUUSD pair will proceed to upward push to the degrees of 2500.00 – 2560.00. The extent of 2310.36 is important on this situation as a breakout will permit the pair to proceed falling to the degrees of 2154.83 – 2019.86.
Worth chart of XAUUSD in actual time mode
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