XAUUSD: Elliott wave analysis and forecast for 05.04.24 – 12.04.24

Main scenario: consider long positions from corrections above the level of 2226.77 with a target of 2350.50 – 2450.00.Alternative scenario: breakout and consolidation below the level of 2226.77 will allow the pair to continue declining to the levels of 2154.83 – 2078.95.Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart. The fifth wave (5) is unfolding, with the first wave 3 of (5) forming as its part. Apparently, the f