XAUUSD: Elliott wave research and forecast for 22.03.24 – 29.03.24

Major situation: believe lengthy positions from corrections above the extent of 2145.48 with a goal of 2250.00 – 2350.50.

Choice situation: breakout and consolidation beneath the extent of 2145.48 will permit the pair to proceed declining to the degrees of 2078.95 – 2024.78.

Research: a descending correction seems to have shaped because the fourth wave (4) of bigger stage at the day by day chart. The 5th wave (5) is unfolding, with the primary wave 3 of (5) forming as its section. It sounds as if, the primary wave of smaller stage i of three is forming at the H4 time period, with a corrective wave (iv) of i finished as its section. Wave (v) of i possibly continues creating at the H1 time period; as its section, wave iii of (v) shaped, a neighborhood correction completed unfolding as wave iv of (v), and wave v of (v) is creating. If the presumption is proper, the XAUUSD pair will proceed to upward push to the degrees of 2250.00 – 2350.50 The extent of 2145.48 is significant on this situation as a breakout will allow the pair to proceed falling to the degrees of 2078.95 – 2024.78.

Value chart of XAUUSD in actual time mode

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