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XAGUSD, Elliot Wave Analysis

10/18/2022 10:47 AM

Growth is possible.

On the daily chart, a downward correction of the higher level ended as the second wave (2), within which the wave C of (2) formed, and the development of the third wave (3) started. Now, the first entry wave of the lower level i of 1 of (3) is forming, within which the wave (iii) of i has formed, and a local correction has ended as the wave (iv) of i. If the assumption is correct, the XAG/USD pair will grow to the area of 21.20–22.47. In this scenario, critical stop loss level is 18.07.

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