XAUUSD: Elliott wave research and forecast for 19.04.24 – 26.04.24

Major situation: believe lengthy positions from corrections above the extent of 2324.77 with a goal of 2450.00 – 2500.00.

Selection situation: breakout and consolidation beneath the extent of 2324.77 will permit the pair to proceed declining to the degrees of 2154.83 – 2019.86.

Research: a descending correction seems to have shaped because the fourth wave (4) of bigger stage at the day-to-day chart. The 5th wave (5) is unfolding, with first wave 3 of (5) forming as its phase. It appears, the 3rd wave of smaller stage iii of three is forming at the H4 time period, with wave (iii) of iii creating inside of. Wave iii of (iii) is shaped, a correction is finished as wave iv of (iii), and wave v of (iii) is unfolding at the H1 chart. If the presumption is right kind, the XAUUSD pair will proceed to upward thrust to the degrees of 2450.00 – 2500.00. The extent of 2324.77 is significant on this situation as a breakout will permit the pair to proceed falling to the degrees of 2154.83 – 2019.86.

Worth chart of XAUUSD in actual time mode

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