Gold / U.S.dollar (XAUUSD) 4Hour Chart 22/08/2023 12:25:32(UTC+7)


Gold / U.S.dollar (XAUUSD)
Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave(3)
Direction Next higher Degrees: Wave ((1)) of Impulse
Wave Cancel invalid level: 1942.67
Elliott Wave Forecast
Gold prices continue to be under pressure from the downtrend. Given the price is below the MA200, however, the price may have a short-term pullback from both MACD and RSI divergences. Even if we miss a decline in wave C, beware of a higher pullback. 1942 because the B wave black correction in flat pattern is still our choice.
Kittiampon Somboonsod, CEWA














































