XAUUSD - A fall is possible.
On the daily chart, a downward correction ended as the fourth wave of the higher level (4), within which the wave C of (4) formed as a momentum, and the fifth wave (5) develops. Now, the first entry wave of the lower level 1 of (5) has formed, within which the wave v of 1 has ended, and a local correction is developing as the second wave 2 of (5).
If the assumption is correct, the XAUUSD pair will fall to the area of 1726.2 – 1699.25. In this scenario, critical stop loss level is 1833.20.
