The probability of an increase in XAU/USD remains. Estimated pivot point is at the level of 1491.28.
Main scenario: “long positions” are relevant from corrections above the level of 1491.28 with the target of 1585.56 – 1650.00.
Alternative scenario: breakout and consolidation below the level of 1491.28 will allow the price to decrease to 1446.41 – 1412.66.
Analysis: within the daily timeframe, the formation of the third wave of the senior level iii of С of (B) presumably continues. On the 4 – hour timeframe, the third wave of the junior level (iii) of iii apparently continues developing. Within the…
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