XAUUSD: Elliott wave analysis and forecast for 15.03.24 – 22.03.24

Main scenario: consider long positions from corrections above the level of 2106.83 with a target of 2250.00 – 2350.50.Alternative scenario: breakout and consolidation below the level of 2106.83 will allow the pair to continue declining to the levels of 2024.78 – 1916.55.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