aupx

aupx

It appears that the Wave II correction is not complete yet. Possible floor is @ 1,620 area.

aupx

$1342 as possible floor.

aupx

Is the peak of Wave 5 already complete @ $1600? Are we now about to witness $XAUUSD's retracement forming Wave A-B-C? Possible in the coming months @ $1275.

aupx

Is it a time to sell anticipating for a pull back? Or is it a legit breakout this time?

aupx

$XAUUSD's price is now moving outside the triangle. Technically, the former resistance @ 1500 area will now serve as the support.

aupx Updated 

Using Elliott Wave Theory, I see 1,626 as a target price based on monthly chart. The length of Wave 1 is 186 and Wave 3 is 284. If we will use Wave 1 as the reference for the length of Wave 5, the approximate target price for for this Wave will be around 1,626 and up.