Gold Price Analysis : Holding onto Support at $1682 is the key to recovery 19th April 2020

XAU/USD Elliott Wave :

As we discussed , https://www.weeklypaisa.com/2020/04/gold-xauusd-elliott-wave-target-1732.html Below 1677 previous analysis will be nullified but we are holding 1677 till date.

19th April Gold analysis forecast as below :

Gold Elliott Wave
Gold Elliott Wave 

So As shown on chart Gold has Completed ABC Flate Pattern at 1679 and confirmation with Fibonacci Ratio C wave is 138.2% of A wave.

Now what is next on Monday ???

We will wait for entry near end of 2nd wave near around 1684. but before that we have to confirm where 1st wave will end . We have forecasted 1st wave will be completed around 1694 but important thing is to count five tiny sub-waves of this 1st wave & after completion on 1st wave fibonacci retracement 50% or 61.8% of 1st wave will be our Gold Entry for the Target of 161.8% of 1st wave which we have forecasted 1711.

So here 1711 3rd wave will be end and 4th wave is 23.2 or 38.6% of 3rd wave retracement will be the 4th wave .

5th wave we forecast 38.6% of entire 0 to 3rd wave retracement which will be around 1711. It may 61.8% then 1724 the end of 5th wave also.

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