Heading to End-Of-Wave E target area
It seems that XAUUSD is making an ABCDE correction for its previous bearish trend. As these recent trend-like movements are slightly overlapped, It rises the possibility for these movements to be an ABCDE correction. The price target should be reached within 4 months and after that, it's high probable that XAUUSD begins a new bearish trend. It's worth mentioning that the previous bearish trend, is part of the correction of a higher level (monthly) bullish trend.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.