XAU/USD Wave Analysis And Forecast For December 21-28

The pair XAU/USD is still likely to grow. The estimated pivot point is at a level of 1241.85.

Main scenario: long positions will be relevant from corrections above the level of 1241.85 with a target of 1270.00 – 1287.47.

Alternative scenario: Breakout and consolidation below the level of 1241.85 will allow the pair to continue declining to the levels of 1210.98 – 1196.13.

Analysis: On the daily time frame, supposedly a downward impetus 1 finished developing within the wave (C) of senior level and an ascending correction is forming as wave 2 of (C). Apparently, the wave a of 2 is developing on the H4 time frame with the fifth wave (v) of a forming inside. Presumably the local correction iv of (v) is completed and the fifth wave of junior level v of (v) of a is developing on H1 time-frame. If the presumption is correct, the price will continue to rise to the levels of 1270.00 – 1287.47. The level 1241.85 is critical in this scenario.

XAU/USD: Wave analysis and forecast for 21/12/2018 – 28/12/2018

XAU/USD: Wave analysis and forecast for 21/12/2018 – 28/12/2018

XAU/USD: Wave analysis and forecast for 21/12/2018 – 28/12/2018

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