XAU/USD: Elliott wave analysis and forecast for 14.03.25 – 21.03.25
The article covers the following subjects:
Major Takeaways
- Main scenario: Consider long positions from corrections above the level of 2830.00 with a target of 3200.00 – 3500.00. A buy signal: the price holds above 2830.00. Stop Loss: below 2800.00, Take Profit: 3200.00 – 3500.00.
- Alternative scenario: Breakout and consolidation below the level of 2830.00 will allow the pair to continue declining to the levels of 2527.63 – 2278.00. A sell signal: the level of 2830.00 is broken to the downside. Stop Loss: above 2860, Take Profit: 2527.63 – 2278.00.
Main Scenario
Consider long positions from corrections above the level of 2830.00 with a target of 3200.00 – 3500.00.
Alternative Scenario
Breakout and consolidation below the level of 2830.00 will allow the pair to continue declining to the levels of 2527.63 – 2278.00.
Analysis
The ascending fifth wave of larger degree 5 is presumably developing on the weekly chart, with wave (5) of 5 forming as its part. The third wave of smaller degree 3 of (5) appears to continue forming on the daily chart, with wave iii of 3 developing inside. Wave (v) of iii is presumably developing on the H4 chart, with wave v of (v) forming as its part. If the presumption is correct, the XAU/USD pair will continue to rise to the levels of 3200.00 – 3500.00. The level of 2830.00 is critical in this scenario, as a breakout will enable the pair to continue falling to the levels of 2527.63 – 2278.00.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
Price chart of XAUUSD in real time mode
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