Heading to End-Of-Wave E target area

9 Nov 2016

It seems that XAUUSD is making an ABCDE correction for its previous bearish trend. As these recent trend-like movements are slightly overlapped, It rises the possibility for these movements to be an ABCDE correction. The price target should be reached within 4 months and after that, it's high probable that XAUUSD begins a new bearish trend. It's worth mentioning that the previous bearish trend, is part of the correction of a higher level (monthly) bullish trend.