XAUUSD: Elliott wave analysis and forecast for 26.03.21 – 02.04.21
Main scenario: consider short positions from corrections below the level of 1755.42 with a target of 1675.33 – 1620.09.
Alternative scenario: breakout and consolidation above the level of 1755.42 will allow the pair to continue rising to the levels of 1799.64 – 1875.25.
Analysis: Daily time frame: presumably, the ascending third wave of larger degree (3) formed, and a descending correction continues developing as wave (4). Apparently, wave C of (4) is developing on the 4H time frame, with wave iii of C completed inside. A local correction appears to have developed as wave iv of C on the H1... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/cCXf
