It is assumed that the XAGUSD pair forms a correction wave b of the cycle degree, which is part of the global zigzag. It is a primary triple zigzag â“Œ-â“-â“Ž-â“-â“. The first four parts of it have already been fully completed. In other words, we see the construction of the last wave â“.
Most likely, the wave â“ will be an intermediate triple zigzag (W)-(X)-(Y)-(X)-(Z). It seems that the second intervening wave (X) in the form of a minor double zigzag W-X-Y has recently ended.
Thus, we can expect a drop in the intermediate wave (Z) to 16.223. At that level, sub-waves (Z) and (Y) will be equal. It is assumed that the wave (Z) takes the double zigzag pattern W-X-Y.
Let's consider the second option, where the bearish primary wave â“ could have already completely ended in the form of a double zigzag (W)-(X)-(Y). And the whole correction b along with it.
Thus, in the last section of the chart, we can notice the initial part of the bullish wave c of the cycle degree. It is assumed that it will take the form of an impulse ①-②-③-④-⑤, as shown in the chart.
Perhaps the primary sub-wave â‘ has come to an end, it is similar to the leading diagonal and correction â‘¡. In the near future, the growth may continue in the sub-wave â‘¢ above the maximum of 22.555.
