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XAUUSD, Elliot Wave Analysis

11/25/2022 10:59 AM

The possibility of growth remains.

On the daily chart, the downward correction has ended as the fourth wave of the higher level (4), within which wave C of (4) has formed as an impulse and the development of the fifth wave (5) has begun. At the moment, the first wave of the lower level 1 of (5) is being built, in which wave iii of 1 formed and corrective wave iv of 1 ended. It is predicted that the quotes of the XAU/USD pair will continue their upward dynamics in the area of 1808.08–1881.56. The level of 1720.15 is critical and stop-loss for this scenario.

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