The XAGUSD pair, as in previous trading weeks, seems to be forming a correction wave b of the cycle degree, which is part of a large zigzag.
Apparently, correction b is a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts of it have already been fully completed, now we see the construction of the last wave Ⓩ.
Most likely, the wave Ⓩ will be an intermediate triple zigzag (W)-(X)-(Y)-(X)-(Z). It seems that the formation of the actionary intermediate wave (Y) has come to an end, it has taken the form of a double zigzag W-X-Y. Thus, growth could begin in the intermediate intervening wave (X).
It can be assumed that the wave (X) will end in the form of a minor double zigzag near 21.259. At that level, it will be at 38.2% along the Fibonacci lines of sub-wave (Y).
Alternatively, it is assumed that the bearish primary wave Ⓩ may end in the form of a double zigzag (W)-(X)-(Y).
Most likely, the market is now in the final part of the actionary wave (Y), or rather in its final minor sub-wave C.
Perhaps wave C will end in the form of an impulse consisting of minute sub-waves.
To end this impulse, a final sub-wave is needed. The end of this impulse is possible near 15.252. At that level, primary wave Ⓩ will be at 161.8% of actionary wave Ⓨ.
