Predominant situation: take into account lengthy positions from corrections above the extent of 1784.38 with a goal of 1997.97 – 2070.98.
Different situation: breakout and consolidation beneath the extent of 1784.38 will permit the pair to proceed declining to the degrees of 1722.24 – 1616.95.
Evaluation: the third wave of bigger diploma (3) continues creating on the day by day chart, with the fifth wave 5 of (3) forming inside. Wave iii of 5 seems to be accomplished, and a downward correction developed because the fourth wave iv of 5 on the H4 chart. Presumably, the fifth wave v of 5 began creating on the H1 chart, with the primary counter-trend wave of smaller diploma (i) of v shaped and a neighborhood correction (ii) of v creating inside. If the presumption is appropriate, the pair will proceed to rise to the degrees of 1997.97 – 2070.98 after the correction is accomplished. The extent of 1784.38 is important on this situation as its breakout will allow the pair to proceed declining to the degrees of 1722.24 – 1616.95.
Value chart of XAUUSD in actual time mode
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