Technical Analytics Report

XAU/USD: Wave Analysis Report 26 Feb 2021

XAU/USD: Wave Analysis Report 26 Feb 2021


The pair is in a correction, a fall is possible.

On the daily chart, the third wave of the higher level (3) formed, and a downward correction develops as the fourth wave (4). Now, the wave C of (4) is forming, within which the wave iii of C is developing. If the assumption is correct, the pair will fall to the levels of 1728.61–1622.21. In this scenario, critical stop loss level is 1876.65.

 Main Scenario

 Short positions will become relevant during the correction, below the level of 1876.65 with the targets at 1728.61–1622.21. Implementation period: 7 days and more.

 Alternative Scenario

 The breakout and the consolidation of the price above the level of 1876.65 will let the price grow to the levels of 1959.38–2075.45.

 Scenario

 Timeframe: Weekly

 Recommendation: Sell

Entry Point: 1762.40

Take Profit: 1728.61, 1622.21

 Stop Loss: 1774.70

Key Levels: 1622.21, 1728.61, 1876.65, 1959.38, 2075.45


 Alternative Scenario

 Timeframe: Weekly

Recommendation: Buy Stop

Entry Point: 1876.70

Take Profit: 1959.38, 2075.45

Stop Loss: 1849.10

Key Levels: 1622.21, 1728.61, 1876.65, 1959.38, 2075.45


Would you like to download this report? We provide every solution to start your own</span