XAUUSD: Elliott wave analysis and forecast for 16.04.21 – 23.04.21
Main scenario: consider long positions from corrections above the level of 1722.83 with a target of 1817.95 – 1851.32.
Alternative scenario: breakout and consolidation below the level of 1722.83 will allow the pair to continue declining to the levels of 1675.55 – 1650.00.
Analysis: The ascending third wave of larger degree (3) formed on the daily time frame, and a descending correction developed as wave (4), supposedly. Wave С of (4) appears to have formed on the H4 time frame, with wave v of C completed as part of it. Supposedly, the fifth wave (5) started developing on the H1... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/6YeY
