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XAU/USD: Elliott Wave Analysis and Forecast for 16.01.26–23.01.26
Main scenario: Consider long positions from corrections above the level of 4,403.95 with a target of 4,850.00–5,050.00. A buy signal: the price holds above 4,403.95. Stop Loss: below 4,403.95, Take Profit: 4,850.00–5,050.00. Alternative scenario: Breakout and consolidation below the level of 4,403.95 will allow the asset to continue declining to the levels of 3,984.50 – 3,742.00. A sell signal: the level of 4,403.95 is broken to the downside. Stop Loss: above 4,403.95, Take Profit: 3,984.50 – 3,742.00. An ascending fifth wave of larger degree 5 is presumably developing on the weekly chart, with wave (3) of 5 ... (full story)