{"id":161903,"date":"2019-12-16T11:44:22","date_gmt":"2019-12-16T16:44:22","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=161903"},"modified":"2019-12-16T10:47:58","modified_gmt":"2019-12-16T15:47:58","slug":"xauusd-gold-correction-likely-to-end-near-1422","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/12\/xauusd-gold-correction-likely-to-end-near-1422\/","title":{"rendered":"XAUUSD: Gold Correction Likely To End Near 1422"},"content":{"rendered":"
December 16, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n<\/div>\n<\/div>\n

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The current structure hints to a double zigzag consisting of primary sub-waves \u24cc -\u24cd and \u24ce with the corrective move seeming to be part of a cycle degree wave IV.<\/div>\n
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In the primary degree, wave \u24ce, which is under development at the time of writing, suggests that intermediate sub-wave (B) is a triple combination (W-X-Y-X-Z). This points to further upside in the short-term.<\/p>\n

We could then see a bullish 5-wave impulse in the minute degree (wave \u24d2) driving prices near 1493.6 as part of the last corrective \u201cthree.\u201d Then prices could slide into a bearish trend, completing intermediate impulse (C) near 1422.<\/p>\n

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A different view of the current structure offers an alternative scenario that could still play out, where intermediate wave (B) is completed. This possibility sees minor wave Z as a standard zigzag.<\/p>\n

Based on this alternative, we can assume that the market has already completed the first bearish minor impulse of the potential 5-wave leg to the downside.<\/p>\n

This suggests that a minor correction 2 could be well completed near 1481.8. And this could be then followed by a decline near 1422.0.<\/p>

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The focus\u00a0should turn to the previous high (alternative intermediate (B)) and whether prices register a fresh high in an upside attempt.<\/p>\n

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By <\/strong>Orbex<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex The current structure hints to a double zigzag consisting of primary sub-waves \u24cc -\u24cd and \u24ce with the corrective move seeming to be part of a cycle degree wave IV. In the primary degree, wave \u24ce, which is under development at the time of writing, suggests that intermediate sub-wave (B) is a triple […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-161903","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=161903"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161903\/revisions"}],"predecessor-version":[{"id":161931,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/161903\/revisions\/161931"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=161903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=161903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=161903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}