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Elliot Wave Analysis by Solidecn.com

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XAUUSD - Growth is possible

On the daily chart, a downward correction developed as the fourth wave of the higher level (4), within which the wave C of (4) formed as a momentum. Now, the fifth wave (5) is starting, within which the first entry wave of the lower level i of 1 of (5) is developing.Β 

If the assumption is correct, the XAUUSD pair will grow to the levels of 1857.25 – 1910.3. In this scenario, critical stop loss level is 1681.43.

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