🚨 Has the rise of gold ended? Or is it just a temporary pause?

📊 Gold vs. US Dollar (#XAUUSDT ) 🇺🇸 | Daily Time Frame

After reaching new record highs and completing an impulsive five-wave pattern according to Elliott Wave Theory, the market is showing signs of a healthy and temporary correction before resuming its upward movement toward higher levels ⬆️

💡 Why is gold declining now?

🔹 Smart profit-taking after a strong and rapid increase

🔹 The strength of the US dollar reduces demand for gold

🔹 Changes in US monetary policy expectations following the nomination of *Kevin Warsh*, which decreased the likelihood of interest rate cuts

▶️ This combination of factors allows the market to take a breather... no more.

📐 Technical analysis and Elliott Wave analysis:

✔️ The price reached the upper boundary of the last price channel (, a strong resistance zone )

✔️ Fibonacci targets were achieved accurately

✔️ A bullish five-wave pattern was completed ← paving the way for a correction before the next impulsive wave

🔍 Where could the correction end?

🔹 Main scenario:

Correction towards the 3898 - 4382 zone

A sideways or zigzag correction *(, most likely sideways due to wave structure [2])*

🔹 Alternative scenario:

A deeper correction towards 3075 - 3498 if a complex corrective pattern forms

⚠️ When is the correction scenario confirmed?

🔻 A clear and decisive break of the price channel

🔻 The breakout occurs through a strong, high-momentum impulsive wave consisting of five waves

📌 From here... we closely monitor upcoming bullish opportunities.

🔥 Do you think gold will resume its strong ascent toward levels above 6000?

Share your opinion 👇

#XAU #COLD

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