XAUUSD: Elliott wave analysis and forecast for 26.11.21 – 03.12.21

Main scenario: consider long positions from corrections above the level of 1758.95 with a target of 1960.00 – 2075.27.

Alternative scenario: breakout and consolidation below the level of 1758.95 will allow the pair to continue declining to the levels of 1720.60 – 1673.63.

Analysis: Daily chart: the ascending third wave of larger degree (3) is formed, a descending correction has developed as the fourth wave (4), and the fifth wave (5) appears to be unfolding, with the first wave of smaller degree 1 of (5) formed inside. H4 chart: apparently, a corrective wave 2 of (5) is completed, and wave... Read full author’s opinion and review in blog of #LiteForex