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XAGUSD, Elliot Wave Analysis

3/13/2023 10:25 AM

Growth is possible.

On the daily chart, a 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) develops. Now, the wave iii of 1 has formed, a local correction has ended as the wave iv of 1, and the development of the fifth wave v of 1 is starting. 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 19.83.

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