The XAU/USD pair continues its upward trend, holding at 2325.0 but now there is a correction, reflecting a decrease in interest in the asset from market players specializing in short-term trading.

The XAU/USD pair is showing a fairly active decline, developing the "bearish" impetus formed the day before. Quotes are testing the level of 2310.00 for a breakdown, updating local lows from April 5. 

Growth is possible.

On the daily chart, the fifth wave of the higher level (5) of 3 forms, within which the wave 1 of (5) ended, a downward correction formed as the second wave 2 of (5), and the third wave 3 of (5) develops. Now, the third wave of the lower level iii of 3 is developing, within which the wave (iii) of iii has ended, and a local correction is developing as the wave (iv) of iii. If the assumption is correct, the XAU/USD pair will grow to the area of 2480.00–2560.00. In this scenario, critical stop loss level is 2323.65.