Trader, analyst and instructor with a 6-year experience

XAU/USD: weekly wave analysis

Roman Petukhov

Weekly.Prolonged correctional wave [4] came to an end. Let's consider the layout of the last section in more detail to determine the prospects of further movement.

Daily. Due to the fact that the market has grown in the last area stronger than expected, the layout has been changed. Wave V looks completely terminated today. Most likely in the coming weeks market will be dominated by the bulls.

H4. Presumably we see the beginning of a new upward impulse. The new week will lift rates in the framework of the pulse 3, as indicated in the figure. Then the price will go to the formation of the correction circuit 4. Approximate upcoming motion for a new week is presented in the figure.

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