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XAGUSD, Elliot Wave Analysis

3/7/2023 10:13 AM

Growth is possible.

On the daily chart, a downward correction of the higher level ended as the second wave (2), and the third wave (3) develops, within which the entry first wave of the lower level 1 of (3) forms. Now, the wave iii of 1 has formed, a local correction has developed as the wave iv of 1, and the wave v of 1 is forming. If the assumption is correct, the XAG/USD pair will grow to the area of 24.58–26.00. In this scenario, critical stop loss level is 20.36.

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