XAU/USD: gold prices update June highs
The pair may fall.
On the daily chart, the first wave of the higher level (1) developed, and a correction forms as the wave (2). Now, the wave A of (2) has formed, the wave B of 2 has developed, and the wave C of (2) is forming, within which the third wave of the lower level iii of C has formed, and the correctional wave iv of C is developing. If the assumption is correct, after the end of the correction, the pair will fall to the levels of 1.3665–1.3573. In this scenario, critical stop loss level is 1.4003.
On the daily chart, the first wave of the higher level (1) developed, and a correction forms as the wave (2). Now, the wave A of (2) has formed, the wave B of 2 has developed, and the wave C of (2) is forming, within which the third wave of the lower level iii of C has formed, and the correctional wave iv of C is developing. If the assumption is correct, after the end of the correction, the pair will fall to the levels of 1.3665–1.3573. In this scenario, critical stop loss level is 1.4003.