XAUUSD: Elliott wave analysis and forecast for 23.06.23 – 30.06.23

Main scenario: consider short positions from corrections below the level of 1967.82 with a target of 1888.73 – 1836.74.

Alternative scenario: breakout and consolidation above the level of 1967.82 will allow the pair to continue rising to the levels of 2022.28 – 2060.00.

Analysis: on the daily chart, a downside correction presumably finished developing as the fourth wave of a larger degree (4) and the fifth wave (5) is forming. Apparently, the first wave of smaller degree 1 of (5) is formed on the H4 chart, and a local correction is developing as the second wave 2 of (5). On… Read full author’s opinion and review in blog of #LiteFinance