Elliott Wave View: XAUUSD (Gold) Should Continue Rally
Elliott Wave sequence in XAUUSD (GOLD) suggest bullish view against September-2022 low in weekly. In daily, it should remain supported in 3, 7 or 11 swings to continue rally to extend higher. In daily, it ended ((4)) correction in 7 swings sequence at 3120.20 low in 5.15.2025 low against April-2025 peak. Above May-2025 low, it should continue rally targeting 3589 or higher levels, while pullback stays above 3246.55 low. In 4-hour, it placed 1 at 3452.5 low in proposed diagonal sequence. Within 1, it ended ((i)) at 3252.05 high, ((ii)) at 3245.20 low, ((iii)) at 3365.93 high, ((iv)) at 3245.20 low & finally ((v)) ended at 3452.50 high. It ended 2 in 7 swings correction at 3246.55 low in 6.29.2025. Within 2 pullback, it ended ((w)) at 3340.18 low, ((x)) at 3398.35 high & ((y)) at 3246.55 low in extreme area. It provided short term buying opportunity in extreme area, corrected 0.618 Fibonacci retracement of 1.
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