XAUUSD: Elliott wave analysis and forecast for 29.03.24 – 05.04.24

Main scenario: consider long positions from corrections above the level of 2155.15 with a target of 2275.00 – 2350.50.Alternative scenario: breakout and consolidation below the level of 2155.15 will allow the pair to continue declining to the levels of 2078.95 – 1991.31.Analysis: a descending correction appears to have formed as 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 first wav