Important situation: take into account lengthy positions from corrections above the extent of 1679.70 with a goal of 1879.10 – 1997.97.
Different situation: breakout and consolidation under the extent of 1679.70 will permit the pair to proceed declining to the degrees of 1650.00 – 1603.30.
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. Apparently, the fifth wave (5) is beginning to develop on the H4 chart. The primary counter-trend wave of smaller diploma i of 1 of (5) is presumably growing on the H1 chart, with wave (v) of i forming as its half. If the presumption is right, the pair will proceed to rise to the degrees of 1879.10 – 1997.97. The extent of 1679.70 is crucial on this situation as its breakout will allow the pair to proceed declining to the degrees of 1650.00 – 1603.30.
Worth chart of XAUUSD in actual time mode
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