XAU/USD: wave analysis
The pair may fall.
On the daily chart, the third wave of the higher level (3) formed, a downward correction developed as the fourth wave (4), and the formation of the fifth wave (5) started. Now, the first wave of the lower level 1 of (5) has formed, and a downward correction is starting to develop as the wave 2 of (5). If the assumption is correct, the pair will fall to the levels of 1822.34–1794.47. In this scenario, critical stop loss level is 1913.30.
On the daily chart, the third wave of the higher level (3) formed, a downward correction developed as the fourth wave (4), and the formation of the fifth wave (5) started. Now, the first wave of the lower level 1 of (5) has formed, and a downward correction is starting to develop as the wave 2 of (5). If the assumption is correct, the pair will fall to the levels of 1822.34–1794.47. In this scenario, critical stop loss level is 1913.30.
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