XAUUSD: Elliott wave research and forecast for 09.12.2022 – 17.12.2022
Primary state of affairs: imagine lengthy positions from corrections above the extent of 1765.01 with a goal of 1851.11 – 1920.84.
Selection state of affairs: breakout and consolidation underneath the extent of 1765.01 will permit the pair to proceed declining to the degrees of 1714.44 – 1689.68.
Research: a descending correction seems to have shaped because the fourth wave (4) of bigger level at the day-to-day chart, with wave С of (4) finished within. The 5th wave (5) seems to be forming at the H4 chart, with the primary counter-trend wave of smaller level i of one of (5) proceeding unfolding as its phase. Wave (v) of i is growing at the H1 chart, with wave v of (v) forming as its phase. If the presumption is proper, the pair will proceed to upward push to the degrees of 1851.11 – 1920.84. The extent of 1765.01 is important on this state of affairs as its breakout will allow the pair to proceed declining to the degrees of 1714.44 – 1689.68.
Value chart of XAUUSD in actual time mode
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