XAUUSD: Elliott wave analysis and forecast for 08.04.2022 – 15.04.2022

Main scenario: consider long positions from corrections above the level of 1890.34 with a target of 2070.98 – 2150.00. 

Alternative scenario: breakout and consolidation below the level of 1890.34 will allow the pair to continue declining to the levels of 1849.41 – 1779.58. 

Analysis: The fifth wave of larger degree (5) continues developing on the daily chart, with wave 3 of (5) forming inside. Apparently, wave iii of 3 is forming on the H4 chart, with wave of smaller degree (iii) of iii formed as its part. On the H1 chart, a local correction has presumably finished developing as the… Read full author’s opinion and review in blog of #LiteFinance