Bigger Picture On XAUUSD Says More Upside To Come

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According to my analysis, we are in wave 2 of the weekly (pink) structure and wave 3 of the daily (blue) structure. Both have targets to the upside.

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ملاحظة

On the H1 time frame there is a good possibility of one more impulse to the downside before the rally. There is a small corrective structure which has formed and a break of this to the downside will indicate the start of the second impulse to complete wave 3.