Short term Elliott Wave view in Gold (XAU/USD) suggests that cycle from 12.18.2024 low is in progress as a 5 waves impulse. Up from 12.18.2024 low, wave 1 ended at 2956.15 as the 1 hour chart below shows. Pullback in wave 2 unfolded as a double three Elliott Wave structure. Down from wave 1, wave (a) ended at 2923.8 and wave (b) ended at 2944.93. Wave (c) lower ended at 2888.09 which completed wave ((w)) in higher degree. Rally in wave ((x)) ended at 2930.11 and the metal has resumed lower.
Down from wave ((x)), wave (a) ended at 2867.57 and rally in wave (b) ended at 2887.68. Final leg wave (c) lower ended at 2832.37 which completed wave ((y)) of 2. The metal has turned higher in wave 3. Up from wave 2, wave (i) ended at 2876.9 and wave (ii) ended at 2858.74. Wave (iii) higher ended at 2893.07 and pullback in wave (iv) ended at 2878.11. Expect wave (v) of ((i)) to end soon, then it should pullback in wave ((ii)) to correct cycle from 2.28.2025 low before it resumes higher. Near term, as far as pivot at 2832.3 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
XAU/USD 60 minutes Elliott Wave chart
XAU/USD Elliott Wave [Video]
FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.
Recommended Content
Editors’ Picks

AUD/USD recovers further to 0.6000 despite escalating US-China trade war
AUD/USD is building on its recovery from its lowest level since March 2020, retesting 0.6000 in Wednesday's Asian trading. The pair's upside appears elusive as officials confirmed that the US will proceed with a sweeping 104% tariff on Chinese imports starting this Wednesday.

USD/JPY: Japanese Yen strengthens further as recession fears boost safe-haven demand
The Japanese Yen continues to benefit from US tariffs-inspired global flight to safety. Hopes for a US-Japan trade deal further underpin the JPY amid sustained USD selling. The divergent BoJ-Fed expectations support prospects for deeper USD/JPY losses.

Gold price jumps back above $3,000 amid trade war threat to global growth
Gold price regains positive traction following previous day's failed attempt to surpass the $3,022-3,023 hurdle and retakes the $3,000 psychological mark during the Asian session on Wednesday.

Bitcoin, Ethereum and Ripple target $73,000 BTC, $1,300 ETH, and $1.30 XRP
Bitcoin price hovers around $76,200 on Wednesday after falling 3.59% the previous day. Ethereum and Ripple followed BTC’s footsteps and continued their downward trend.

The Fed is looking at a hefty price level
We are still in thrall to tariffs, the faux-macro “data” driving markets. The WSJ editorial board advised other countries to take their tariffs to zero so that Trump’s “reciprocal” tariffs will have to be zero, too. Cute, but no cigar.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.