Forex Trading Library

XAGUSD Intervening Wave (X) Pushes Prices Higher!

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XAGUSD seems to be forming a correction wave b of the cycle degree, which is a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts of it have ended and now we see the construction of the final wave Ⓩ.

Most likely, the wave Ⓩ will be an intermediate triple zigzag (W)-(X)-(Y)-(X)-(Z). It seems that the formation of the actionary intermediate wave (Y) has come to an end. This took the form of a double zigzag W-X-Y.

It can be assumed that the wave (X) will end as a minor double zigzag W-X-Y near 21.169. At that level, it will be at 50% of sub-wave (Y).

Alternatively, the bearish primary wave Ⓩ could end in the form of a double zigzag (W)-(X)-(Y).

Most likely, prices are now in the final part of the actionary wave (Y), or rather in its final minor sub-wave C.

Wave C could end as an impulse consisting of minute sub-waves.

To complete this impulse, a final sub-wave ⓥ is needed. The end of the specified impulse is possible near 12.473. At that level, primary wave Ⓩ will be at 200% of actionary wave Ⓨ.

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