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XAGUSD, Elliot Wave Analysis

1/10/2023 10:25 AM

The price is in a correction and may grow.

On the daily chart, a downward correction of the higher level formed as the second wave (2), and the development of the third wave (3) started, within which the first entry wave of the lower level 1 of (3) forms. Now, the wave iii of 1 has formed, and a local correction is ending as the wave iv of 1, within which the wave (c) of iv is ending. If the assumption is correct, the XAG/USD pair will grow to the area of 25.00–26.00. In this scenario, critical stop loss level is 22.47.

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