Home Market XAUUSD: Elliott wave analysis and forecast for 25.11.2022 – 02.12.2022

XAUUSD: Elliott wave analysis and forecast for 25.11.2022 – 02.12.2022

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Main scenario: consider long positions from corrections above the level of 1719.97 with a target of 1807.32 – 1851.11.

Alternative scenario: breakout and consolidation below the level of 1719.97 will allow the pair to continue declining to the levels of 1681.58 – 1616.96.

Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart, with wave С of (4) completed inside. On the H4 chart, the fifth wave (5) seems to be in formation. The first counter-trend wave with a smaller degree i.1 of (5) is also unfolding. On… Read full author’s opinion and review in blog of #LiteFinance



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