XAUUSD: Elliott wave evaluation and forecast for 11.02.22 – 18.02.22

Date:


Major state of affairs: think about lengthy positions from corrections above the extent of 1780.34 with a goal of 1913.87 – 2075.27.

Various state of affairs: breakout and consolidation beneath the extent of 1780.34 will enable the pair to proceed declining to the degrees of 1717.90 – 1673.63.

Evaluation: each day chart: an ascending third wave of bigger diploma (3) is shaped, a descending correction developed because the fourth wave (4), and the fifth wave (5) seems to be unfolding, with the third wave of smaller diploma 3 of (5) forming as its half. Wave iii of three seems to be creating on the H4 chart, with a neighborhood correction shaped inside as wave (ii) of iii. Supposedly, the third wave of smaller diploma (iii) of iii is forming on the H1chart, with wave iii of (iii) unfolding as its half. If the presumption is appropriate, the pair will proceed to rise to the degrees of 1913.87 – 2075.27. The extent of 1780.34 is crucial on this state of affairs as its breakout will allow the pair to proceed declining to the degrees of 1717.90 – 1673.63.



Value chart of XAUUSD in actual time mode

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