The pair XAU/USD is still likely to grow. Estimated pivot point is at a level of 1269.38.
Main scenario: long positions will be relevant above the level of 1269.38 with a target of 1385.94 – 1431.14.
Alternative scenario: Breakout and consolidation below the level of 1269.38 will allow the pair to continue declining to the levels of 1252.00 – 1230.00.
Analysis: Supposedly, a correction wave of senior level (B) continues forming on the W1 time frame, with the wave C of (B) developing within. On the D1 time frame, presumably the third wave iii of C is developing , with…
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