XAUUSD: Elliott wave analysis and forecast for 28.06.24 – 05.07.24

Main scenario: consider short positions from corrections below the level of 2370.00 with a target of 2218.46 – 2161.56.Alternative scenario: breakout and consolidation above the level of 2370.00 will allow the pair to continue rising to the levels of 2500.00 – 2560.00.Analysis: the fifth wave of larger degree (5) is forming on the daily chart, with wave 3 of (5) unfolding as its part. Apparently, the third wave of smaller degree iii of 3 is formed on the H4 time frame, and a descendi