Elliott Wave Analysis Report for Gold (XAU/USD)

Elliott Wave Analysis Report for Gold (XAU/USD)
​Following an in-depth structural analysis of Gold’s price action, it is evident that the current downward movement is inherently corrective. This is confirmed by the observed price overlap and, more importantly, the price-time balance, as the corrective pattern consumed significantly more time compared to the preceding impulsive advance.
​Technically, prices are currently developing within a Regular Flat pattern (3-3-5), with the following internal sub-structure:
​Wave (A): Formed as a 3-wave corrective structure (a-b-c) in the shape of a Zigzag, completing the first internal triad.
​Wave (B): Rallied in a complex correction taking the form of a Double Zigzag (W-X-Y).
​Wave (C): Declined in a structure that also developed as a Double Zigzag.
​Following the completion of this pattern, the price initiated an upward move in a 3-wave structure to form Wave (2) of a higher corrective degree.
​Current Technical Outlook & Forecast:
We are currently developing Wave (3), which is an Impulse Wave within the smaller 5-wave motive sequence, and its internal sub-waves are currently unfolding. This 5-wave impulsive sequence is projected to conclude at a minimum target of 4040, indicating further downside potential before the structure completes.
​(Full wave breakdown and labeling details are illustrated in the attached chart).
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