XAUUSD: Elliott wave analysis and forecast for 09.04.2021 – 16.04.2021
Main scenario: consider long positions from corrections above the level of 1676.88 with a target of 1817.95 – 1851.32.
Alternative scenario: breakout and consolidation below the level of 1676.88 will allow the pair to continue declining to the levels of 1650.00 – 1620.09.
Analysis: The ascending third wave (3) of a larger degree formed and, presumably, the descending correction has formed as wave (4) in a daily timeframe. Wave С of (4) seems to have finished in the four-hour timeframe, with wave v of C completed inside. Presumably, the fifth wave (5) has started developing in the hourly timeframe, with... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/cFLB
