Price action from from Jan 25,2018 (~$1364.62) to March 20, 2018 at ~$1310.23 has been identified in this analysis as an intermediate wave (X). An intermediate wave (Y) upwards is anticipated to complete a zigzag Elliott wave structure.
The current upswing terminated at a minute wave ((iii)) position and a 38.2% to 50% retracement (i.e. between $1339.60 and $1336.59 respectively) is anticipated as the region of termination of minute wave ((iv)), after which XAUUSD (Gold) should resume its uptrend.
The minimum termination price for the current uptrend is ~$1387.85 where intermediate wave (Y) = 61.8% of intermediate wave (W) Projections based on using wave C of a zigag= 61.8% of wave A of a zigzag
P.S. Analysis is based on OANDA FX's data and may vary slightly depending on your broker.
The current upswing terminated at a minute wave ((iii)) position and a 38.2% to 50% retracement (i.e. between $1339.60 and $1336.59 respectively) is anticipated as the region of termination of minute wave ((iv)), after which XAUUSD (Gold) should resume its uptrend.
The minimum termination price for the current uptrend is ~$1387.85 where intermediate wave (Y) = 61.8% of intermediate wave (W) Projections based on using wave C of a zigag= 61.8% of wave A of a zigzag
P.S. Analysis is based on OANDA FX's data and may vary slightly depending on your broker.
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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.
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.