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XAGUSD, Elliot Wave Analysis

3/27/2023 10:21 AM

Growth is possible.

On the daily chart, a downward correction of the higher level ended as the second wave (2), and the formation of the third wave (3) started, 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 fifth wave v of 1 is developing, within which the wave (i) of v has formed. If the assumption is correct, after the end of the wave (ii) of v, the XAG/USD pair will grow to the area of 24.58–26.00. In this scenario, critical stop loss level is 21.18.





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