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 Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts of it have already been fully completed. In other words, 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 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 Ⓩ 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 ① has come to an end, it is similar to the leading diagonal and correction ②. In the near future, the growth may continue in the sub-wave ③ above the maximum of 22.555.
