XAU/USD: Elliott Wave Analysis and Forecast for 16.05.25 – 23.05.25

Major Takeaways Main scenario: Consider long positions above the level of 2950.65 with a target of 3800.00 – 4200.00 after a correction is completed. A buy signal: the price holds above 2950.65. Stop Loss: below 2900.00, Take Profit: 3800.00 – 4200.00. Alternative scenario: Breakout and consolidation below the level of 2950.65 will allow the XAU/USD pair to continue declining to the levels of 2574.07 – 2277.38. A sell signal: the level of 2950.65 is broken to the downside. Stop