Technical Analytics Report

XAU/USD: Wave Analysis Report 30 April 2021

XAU/USD: Wave Analysis Report 30 April 2021


Current Trend: The pair may grow.

On the daily chart, the third wave of the higher level (3) has formed, a downward correction developed as the fourth wave (4), and the formation of the fifth wave (5) started. Now, the first wave of the lower level 1 of (5) is developing, within which the formation of the correctional wave iv of 1 is ending. If the assumption is correct, the pair will grow to the levels of 1841.90–1877.85. In this scenario, critical stop loss level is 1721.86.

Main Scenario

Long positions will become relevant during the correction, above the level of 1721.86 with the targets at 1841.90–1877.85. Implementation period: 7 days and more.

 Alternative Scenario

 The breakdown and the consolidation of the price below the level of 1721.86 will let the pair go down to the levels of 1676.05–1622.21.

 Scenario

 Timeframe: Weekly

Recommendation: Buy

Entry Point: 1768.69

Take Profit: 1841.90, 1877.85

Stop Loss: 1721.86

Key Levels: 1622.21, 1676.05, 1721.86, 1841.90, 1877.85

 Alternative Scenario

 Timeframe: Weekly

Recommendation: Sell Stop

Entry Point: 1721.80

Take Profit: 1676.05, 1622.21

Stop Loss: 1737.05

Key Levels: 1622.21, 1676.05, 1721.86, 1841.90, 1877.85


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