XAUUSD: Elliott wave research and forecast for 07.04.23 – 14.04.23

Major situation: believe lengthy positions from corrections above the extent of 1891.42 with a goal of 2050.00 – 2100.00.

Choice situation: breakout and consolidation beneath the extent of 1891.42 will permit the pair to proceed declining to the degrees of 1859.35 – 1805.16.

Research: at the day-to-day chart, a problem correction probably completed creating because the fourth wave of bigger stage (4), and the 5th wave (5) is forming. It appears, the primary wave of smaller stage 1 of (5) is shaped and a neighborhood correction is finished as 2d wave 2 of (5) at the H4 chart. The 3rd wave 3 of (5) began unfolding, with wave i of three proceeding creating as its phase. Wave (iii) of i of three and a corrective wave (iv) of i of three are shaped at the H1 chart. Wave (v) of i of three is recently unfolding. If the presumption is right kind, the pair will proceed to upward push to the degrees of 2050.00 – 2100.00. The extent of 1891.42 is important on this situation as a breakout will permit the pair to proceed declining to the degrees of 1859.35 – 1805.16.

Value chart of XAUUSD in actual time mode

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