XAUUSD Rate decision is in. Now watch how gold chooses its pathThe gold chart in the image is currently progressing within Wave 5 of the larger Elliott Wave structure, after completing Wave 4 in an a–b–c corrective pattern. Price action is now developing a new upward leg according to Elliott Wave principles.
In the lower-degree structure, price is now moving inside Wave (iv), correcting through a W–X–Y pattern, with a deeper pullback expected toward the 4163–4170 zone, which is the area where Wave (iv) is likely to complete.
Once Wave (iv) finishes, the market is expected to advance into Wave (v), targeting the 4350–4400 region, based on wave proportions and intact bullish momentum.
In summary:
Gold is inside a W–X–Y corrective Wave (iv), nearing completion, and is likely to continue upward into Wave (v) toward 4350–4400 to complete the larger Elliott Wave structure.
