XAU/USD remains likely to grow. Estimated pivot point is at a level of 1746.00.
Main scenario: consider long positions from corrections above the level of 1746.00 with a target of 1800.00 – 1850.00.
Alternative scenario: Breakout and consolidation below the level of 1746.00 will allow the pair to continue declining to the levels of 1704.32 – 1670.86.
Analysis: Supposedly, an ascending correction of larger degree continues developing in the form of wave (B) on the daily time frame, with wave С of (B) forming within. On the H4 time frame, supposedly, the fifth wave v of C is forming, with…
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