XAUUSD: Elliott wave research and forecast for 07.07.23 – 14.07.23

Primary situation: imagine brief positions from corrections underneath the extent of 1935.00 with a goal of 1836.74 – 1782.50.

Choice situation: breakout and consolidation above the extent of 1935.00 will permit the pair to proceed the stand up to the degrees of 1973.80 – 2022.28.

Research: at the day by day chart, a drawback correction possibly completed creating because the fourth wave of bigger level (4), and the 5th wave (5) is forming. It sounds as if, the primary wave of smaller level 1 of (5) is shaped at the H4 chart, and a downward correction is creating as the second one wave 2 of (5). Wave с of two is creating at the H1 chart, with wave (i) of c and wave (ii) of c shaped and wave (iii) of c creating inside of. If the presumption is proper, the pair will proceed to drop to the degrees of 1836.74 – 1782.50. The extent of 1935.00 is significant on this situation as a breakout will allow the pair to proceed emerging to the degrees of 1973.80 – 2022.28.

Worth chart of XAUUSD in actual time mode

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