XAUUSD: Elliott wave analysis and forecast for 16.08.24 – 23.08.24

Highlights and key points Main scenario: consider long positions from corrections above the level of 2377.25 with a growth target of 2560.00 – 2650.00. A buy signal: the price remains above 2377.25. Stop Loss: below 2350.00, Take Profit: 2560.00 – 2650.00. Alternative scenario: breakout and consolidation below the level of 2377.25 will allow the pair to continue declining to the levels of 2161.56 – 1988.70. A sell signal: after the level of 2377.25 is broken to the downside. St