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Joined Aug 10, 2019
elliottwaves
fundamental
trendanalysis
waveanalysis
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XAUUSD Technical Analysis – 1H Timeframe According to the Elliott Wave structure, wave 5 appears to have completed, and price is now entering a corrective phase. The break of the rising trendline and resistance zone signals the possibility of a new downward move. Key support levels lie around 3299 and then 3165 USD
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Currently, the price seems to be forming corrective wave (b), with a potential upward move toward the 144.78 – 145.45 area as wave (c). After that, a new bearish wave (wave 3) may begin, with targets around 141.36 and 139.03 . This analysis is based on Elliott Wave structure and Fibonacci retracement levels.
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