The pair XAU/USD remains likely to grow. Estimated pivot point is at a level of 1618.18.
Main scenario: long positions should be considered from corrections above the level of 1618.18 with a target of 1750.00 – 1800.00.
Alternative scenario: breakout and consolidation below the level of 1618.18 will allow the pair to continue declining to the levels of 1587.00 – 1550.00.
Analysis: Supposedly, wave (B) of senior level continues developing on the weekly time frame, with an ascending impulse developing inside as wave C of (B). Apparently, the fifth wave v of C is developing on the daily time frame,...
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