By Orbex
The current XAUUSD structure suggests that the intermediate correction wave (4), which is currently under construction, is a triple zigzag. This triple zigzag consists of minor sub-waves W-X-Y-X-Z.
The second minor intervening wave X has ended. The final minor wave Z is a double zigzag of a minute degree.
It is possible that the wave ⓨ will take the form of a double combination, as shown in the chart, and will complete its pattern near 1636.45. At that level, minor waves Y and Z will be equal.
Free Reports:
The alternative scenario suggests that the formation of the intermediate correction (4) has ended.
To confirm this option, the development of wave (5) in an impulse or an ending diagonal will be required.
The price of gold could grow significantly above the level of 1917.03. This was shown by the minor intervening wave X.
By Orbex
By Leonardo Macelloni, University of Mississippi You may be hearing a lot lately about critical…
By JustMarkets The US stock market concluded Monday’s session with gains. By the end of…
By Analytical Department RoboForex EUR/USD is trading around 1.1608 on Tuesday. The US dollar attempted…
By Michael Klein, Tufts University The “fog of war” refers to confusion and uncertainty on…
By JustMarkets The Canadian dollar rose above 1.37 against the US dollar, reaching a one-month…
By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…
This website uses cookies.