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The pair XAU/USD remains likely to grow. Estimated pivot point is at a level of 1449.75.
Main scenario: long positions should be considered from corrections above the level of 1449.75 with a target of 1517.74 – 1557.48.
Alternative scenario: breakout and consolidation below the level of 1449.75 will allow the pair to continue declining to the levels of 1430.00 – 1412.74.
Analysis: Supposedly, wave (B) of senior level continues forming on the weekly time frame. Apparently, an ascending impulse is developing as wave C of (B) on the daily time frame, with the third wave of junior level iii of…
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