XAUUSD: Elliott wave analysis and forecast for 26.05.23 – 02.06.23

XAUUSD: Elliott wave analysis and forecast for 26.05.23 – 02.06.23

From litefinance.org

Main scenario: consider long positions above the level of 1901.88 with a target of 2060.00 – 2100.00 after correction. Alternative scenario: breakout and consolidation below the level of 1901.88 will allow the pair to continue declining to the levels of 1865.33 – 1803.84. Analysis: on the daily chart, a downside correction presumably finished developing as the fourth wave of larger degree (4), and the fifth wave (5) is forming. Apparently, the third wave of smaller degree 3 of (5) is formed on the H4 chart, and a local correction is developing as the fourth wave 4 of (5). Wave с of 4 is nearing completion on the ... (full story)

- Older Stories
The construction sector’s sinking circular foundations
From think.ing.com|May 27, 2023
In the path toward creating a circular economy, the process of reducing waste levels is absolutely crucial – and we're seeing this take place slowly but surely in the European ...
Treasury says it won’t run out money until at least June 5, buying time for debt ceiling talks
From cnbc.com|May 26, 2023|2 comments
Treasury Secretary Janet Yellen said Friday that the United States will likely have enough reserves to push off a potential debt default until June 5. The new date Friday provided ...
An Evaluation of the Skewness Model on 22 Commodities Futures
From quantpedia.com|May 26, 2023
Skewness is one of the less-known but practical measures from statistics that can be used in trading. It is defined as a measure of the asymmetry of the probability distribution ...

- Newer Stories
Bearish Base Metals Bottoming Out?
From forex.com|May 27, 2023
The macro, micro and technical outlook for base metals has been pretty bearish, and it is not surprising that the base metals price index has fallen to six months lows. Market ...
Week Ahead – Turkey decides, crucial US jobs report, x-date fast approaching
From marketpulse.com|May 27, 2023
Wall Street is starting to get nervous as we near the X-date. A US default seemed unimaginable a couple of weeks ago and despite a lot of positive comments from both sides, ...
Fed’s Mester Says ‘Everything’ on the Table for June Rate Action
From bnnbloomberg.ca|May 27, 2023
Federal Reserve Bank of Cleveland President Loretta Mester said she wouldn’t rule out raising interest rates again next month after disappointing progress on inflation. ...

Related Stories