XAUUSD: Elliott wave analysis and forecast for 26.07.24 – 02.08.24

Highlights and key points Main scenario: consider long positions above the level of 2291.67 with a target of 2560.00 – 2650.00 once a correction is over. A buy signal: after the level of 2291.67 is broken. Stop Loss: 2250.00; Take Profit: 2650.00. Alternative scenario: breakout and consolidation below the level of 2291.67 will allow the pair to continue declining to the levels of 2161.56 – 1988.70. A sell signal: after the level of 2291.67 is broken. Stop Loss: 2330.00; Take Profit: