XAGUSD: An Intermediate Impulse Wave (Y) Has Started. – Orbex Forex Trading Blog

In the long term, XAGUSD seems to be forming a corrective trend consisting of cycle waves w-x-y-x-z.

At the time of writing, an intervening wave x is being constructed, taking the form of a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ of the primary degree.

The primary wave Ⓩ is under development. Perhaps this wave will be a standard intermediate zigzag, where the impulse and correction have already been completed.

In the next coming days, an increase in (C) is expected approximately to 27.929, where the primary waves Ⓩ and Ⓨ will be equal. Wave (C) is marked as a minor impulse.

However, the development of the intermediate wave (B) may continue. Alternatively, it looks like a double zigzag, in which the sub-waves W and X are completed.

In the near future, a decrease is expected in the final actionary wave Y. Wave Y may take the form of a minute zigzag ⓐ-ⓑ-ⓒ.

It is assumed that the entire intermediate correction (B) will be equal to 76.4% of impulse (A), and will end near 21.350.

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• Source: https://www.orbex.com/blog/en/2023/06/xagusd-an-intermediate-impulse-wave-y-has-started