XAUUSD: Elliott wave analysis and forecast for 26.04.24 – 03.05.24

Main scenario: consider long positions from corrections above the level of 2293.07 with a target of 2450.00 – 2500.00.Alternative scenario: breakout and consolidation below the level of 2293.07 will allow the pair to continue declining to the levels of 2154.83 – 2019.86.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 first wave 3 of (5) forming as its part. Apparently, the third