The pair XAU/USD is likely to fall in price Estimated pivot point is at a level of 1367.75.

Main scenario: short positions will be relevant below the level of 1367.75 with a target of 1159.50 – 1097.76.

Alternative scenario: breakout and consolidation above the level of 1367.75 will allow the pair to continue rising to a level of 1400.00 and higher.

Analysis: Supposedly, the wave of senior level (C) continues developing on the daily time frame, with the wave 1 of (C) formed inside. On H4 time-frame, apparently, an upward correction is nearing completion in the form of the wave 2 of (C). Supposedly, the fifth wave of junior level v of (v) of с of 2 is completed on the H1 time frame. If the presumption is correct, the pair will start dropping to the levels of 1159.50 – 1097.76. The level 1367.75 is critical in this scenario.

XAU/USD: Wave analysis and forecast for 11/01/2019 – 18/01/2019

XAU/USD: Wave analysis and forecast for 11/01/2019 – 18/01/2019

XAU/USD: Wave analysis and forecast for 11/01/2019 – 18/01/2019


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Price chart of XAUUSD in real time mode

XAU/USD: Wave analysis and forecast for 11/01/2019 – 18/01/2019

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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