KirkBarton

XAU/USD: gold prices update June highs

OANDA:XAUUSD   Gold Spot / U.S. Dollar
The pair may fall.

On the daily chart, the first wave of the higher level (1) developed, and a correction forms as the wave (2). Now, the wave A of (2) has formed, the wave B of 2 has developed, and the wave C of (2) is forming, within which the third wave of the lower level iii of C has formed, and the correctional wave iv of C is developing. If the assumption is correct, after the end of the correction, the pair will fall to the levels of 1.3665–1.3573. In this scenario, critical stop loss level is 1.4003.
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