XAUUSD: Elliott Wave Analysis and Forecast for 20.12.24 – 27.12.24

The article covers the following subjects:

Major Takeaways

  • Main scenario: Consider short positions from corrections below the level of 2728.40 with a target of 2418.82 – 2304.21. A sell signal: the price holds below 2728.40. Stop Loss: above 2735, Take Profit: 2418.82 – 2304.21.
  • Alternative scenario: Breakout and consolidation above the level of 2728.40. will allow the asset to continue rising to the levels of 2792.47 – 2880.00. A buy signal: the level of 2728.40 is broken to the upside. Stop Loss: below 2720.00, Take Profit: 2792.47 – 2880.00.

Main Scenario

Consider short positions from corrections below the level of 2728.40 with a target of 2418.82 – 2304.21.

Alternative Scenario

Breakout and consolidation above the level of 2728.40 will allow the pair to continue rising to the levels of 2792.47 – 2880.00.

Analysis

The fifth wave of larger degree (5) is presumably developing on the daily chart, with wave 3 of (5) formed as its part. Apparently, a descending correction is developing as the fourth wave 4 of (5) on the H4 chart, with waves a of 4 and b of 4 formed as its parts. Wave c of 4 started to develop on the H1 time frame, with the first wave of smaller degree (i) of c developing inside. If the presumption is correct, the XAUUSD pair will continue to drop to the levels of 2418.82 – 2304.21. The level of 2728.40 is critical in this scenario as a breakout will enable the pair to continue rising to the levels of 2792.47 – 2880.00.



Price chart of XAUUSD in real time mode

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

Rate this article:

{{value}} ( {{count}} {{title}} )

This post is originally published on LITEFINANCE.

  • Related Posts

    Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 30.07.2025

    Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis.  The article covers the following subjects: Major Takeaways BTCUSD: The correction is…

    Short-Term Analysis for Oil, Gold, and EURUSD for 30.07.2025

    I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    B2BROKER and Nullpoint Partner to Integrate B2COPY Copy Trading Solution

    • July 30, 2025
    B2BROKER and Nullpoint Partner to Integrate B2COPY Copy Trading Solution

    Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 30.07.2025

    • July 30, 2025
    Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 30.07.2025

    Short-Term Analysis for Oil, Gold, and EURUSD for 30.07.2025

    • July 30, 2025
    Short-Term Analysis for Oil, Gold, and EURUSD for 30.07.2025

    The US Takes It All, Gives Nothing Back. Forecast as of 30.07.2025

    • July 30, 2025
    The US Takes It All, Gives Nothing Back. Forecast as of 30.07.2025