The current XAUUSD structure hints at a final impulse in wave ⑤. This is part of a larger cycle degree impulse. It consists of five sub-waves (1)-(2)-(3)-(4)-(5).
At the time of writing, the market has completed correction wave (4) as a zigzag. It consists of minor sub-waves A-B-C. This now suggests a bullish move in wave (5).
In wave (5). we could expect prices to rise above 2075.88. This is the high registered by impulse wave (3).
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An alternative scenario suggests that intermediary wave (4) is not yet complete.
Its structure points to an A-B-C zigzag, where minor wave C is incomplete.
We are now in the 4th corrective wave. This could complete near 1913.70. At this level, it will be at 61.8% of the 3rd impulse wave in C.
After completing this correction, the market could fall to the 1791.19 area. This is where intermediate correction wave (4) will be at 76.4% of wave (3).
At the time of writing, the market has completed correction wave (4) as a zigzag. It consists of minor sub-waves A-B-C. This now suggests a bullish move in wave (5).
In wave (5). we could expect prices to rise above 2075.88. This is the high registered by impulse wave (3).
_________________________________________________________________________________________________________________________________________________________
An alternative scenario suggests that intermediary wave (4) is not yet complete.
Its structure points to an A-B-C zigzag, where minor wave C is incomplete.
We are now in the 4th corrective wave. This could complete near 1913.70. At this level, it will be at 61.8% of the 3rd impulse wave in C.
After completing this correction, the market could fall to the 1791.19 area. This is where intermediate correction wave (4) will be at 76.4% of wave (3).