Foremost situation: contemplate lengthy positions from corrections above the extent of 1809.72 with a goal of 1900.00 – 1961.31.
Different situation: breakout and consolidation beneath the extent of 1809.72 will enable the pair to proceed declining to the degrees of 1771.95 – 1747.55.
Evaluation: on the every day chart, a draw back correction presumably completed growing because the fourth wave of bigger diploma (4), and the fifth wave (5) is forming. Apparently, the primary wave of smaller diploma 1 of (5) is fashioned and a neighborhood correction is accomplished as second wave 2 of (5) on the H4 chart. The third wave 3 of (5) began unfolding, with wave i of three growing as its half. On the H1 chart, a counter-trend wave (i) of i of three is fashioned, a neighborhood correction (ii) of i of three is accomplished, and wave (iii) of i of three began unfolding. If the presumption is right, the pair will proceed to rise to the degrees of 1900.00 – 1961.31. The extent of 1809.72 is important on this situation as its breakout will allow the pair to proceed declining to the degrees of 1771.95 – 1747.55.
Value chart of XAUUSD in actual time mode
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