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XAUUSD, Elliot Wave Analysis
8/26/2022 11:22 AMGrowth is possible.
On the daily chart, a downward correction ended as the fourth wave of the higher level (4), within which the wave C of (4) formed as a momentum and the fifth wave (5) started. Now, the first entry wave of the lower level i of 1 of (5) has formed and the local correction has developed as the second wave ii of 1 of (5). If the assumption is correct, the XAU/USD pair will grow to the area of 1857.25–1910.30. In this scenario, critical stop loss level is 1681.43.
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