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XAUUSD: Elliott wave analysis and forecast for 17.03.23 – 24.03.23

XAUUSD: Elliott wave analysis and forecast for 17.03.23 – 24.03.23

Main scenario: consider long positions from corrections above the level of 1855.00 with a target of 2000.00 – 2050.00. Alternative scenario: breakout and consolidation below the level of 1855.00 will allow the pair to continue declining to the levels of 1803.10 – 1771.95. Analysis: on the daily chart, a downside correction presumably finished developing as the fourth wave of larger degree (4), and the fifth wave (5) is forming. Apparently, the first wave of smaller degree 1 of (5) is formed and a local correction is completed as second wave 2 of (5) on the H4 chart. The third wave… Read full author’s opinion and review in blog of #LiteFinance

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