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Gold Spot / U.S. Dollar

XAUUSD retrace watch: Gold has one more leg UP ?

By EuroMotif
Mod
Updated
Gold seems to be in a 5 wave impulse move up.
Currently looks to be in a wave 4 pullback.
Wave 5 has yet to start, but should do soon.
Note
Pretty solid fib of the dip snapshot

The above micro-EW indicates we are headed for the lower target to end bigger wave 4 snapshot

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Note
This blue micro- fib was confirmed early on with 1.236 and 1.618 pings snapshot The susquent action indicates the blue 4.236 end of wave which lines up prefecly with red 3.236 from next higher tf snapshot thus 1281.78 my next target.

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Note
three short term fibs pointing to 1281 snapshot

and higher tf fib proved 1276 important snapshot so will be observing 1276-1282 under microscope

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Note
1276-80 still looks good snapshot
Note
Precise rejection at the confluence of 2 fibs snapshot

So this 12345 to the bottom of our support zone looks quite plausbile still snapshot

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Elliott WaveFibonacciSupport and Resistance
EuroMotif
Mod
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