• XAUUSD: Elliott wave analysis and forecast for 09.02.24 – 16.02.24

    XAUUSD: Elliott wave analysis and forecast for 09.02.24 – 16.02.24
    Main scenario: consider long positions from corrections above the level of 2001.72 with a target of 2220.00 – 2300.00.Alternative scenario: breakout and consolidation below the level of 2001.72 will allow the pair to continue declining to the levels of 1912.52 – 1809.00.Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart. The fifth wave (5) is unfolding, with the first wave 3 of (5) forming as its part. Apparently, the f

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