XAGUSD seems to be forming a correction wave b of the cycle degree which is part of the global zigzag.
The correction wave b is a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts of it have already ended and now we see the construction of the final wave Ⓩ.
Most likely, the wave Ⓩ will be an intermediate triple zigzag (W)-(X)-(Y)-(X)-(Z). In this pattern, wave (X) is likely to end in the form of a minor double zigzag W-X-Y to 20.054. At that level, it will be at 50% along the Fibonacci lines of sub-wave (Y).
After reaching this level, we could expect a fall in the intermediate wave (Z) to 15.055. At the specified level, sub-waves (Z) and (Y) will be equal.
However, the bearish primary wave Ⓩ could have already ended in the form of a double zigzag (W)-(X)-(Y), and with it the entire correction b.
Thus, in the last section of the chart, we can notice the initial part of the bullish wave c of the cycle degree. It is assumed that it will take the form of an impulse ①-②-③-④-⑤, as shown in the chart.
Most likely, the first half of the actionary impulse wave will end near the maximum of 26.978.
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