XAU/USD: Elliott wave analysis and forecast for 18.10.24 – 25.10.24

Highlights and key points Main scenario: consider long positions from corrections above the level of 2601.27 with a target of 2800.00 – 3000.00. A buy signal: if the price holds above 2601.27. Stop Loss: below 2590.00, Take Profit: 2800.00 – 3000.00. Alternative scenario: breakout and consolidation below the level of 2601.27 will allow the pair to continue declining to the levels of 2468.90 – 2356.76. A sell signal: once the level of 2601.27 is broken to the downside. Stop Loss