XAU/USD: Elliott wave analysis and forecast for 03/04/2020 – 10/04/2020

The pair XAU/USD remains likely to fall. Estimated pivot point is at a level of 1645.28.

Main scenario: short positions will be relevant from corrections below the level of 1645.28 with a target of 1450.00 – 1265.31.

Alternative scenario: breakout and consolidation above the level of 1645.28 will allow the pair to continue rising to the levels of 1750.00 – 1800.00.

Analysis: Supposedly, wave (B) of senior level is nearing completion on the daily time frame, with an ascending impulse formed inside as wave C of (B). Apparently, a descending wave (C) started developing on the H4 time frame with…<br /><p>Read full author’s opinion and review in blog of #LiteForex</p>