XAUUSD Climbs as Technical Wave Analysis Predicts Upside
Hello Traders, in today’s blog, we’re reviewing the XAUUSD wave count shared with our members, which pointed to a strong bullish outlook. The Elliott Wave pattern confirmed the move, sending the precious metal surging over 2000 points.
Technical Outlook After Gold Completes Major Correction from All‑Time Highs
The precious metal peaked earlier this year at 5589.97 on 01.29.2026, and subsequently underwent a six-month corrective phase, wrapping up at 3940.68 on June 30, 2026. Since hitting that low, Gold rallied to complete wave (4) at 4309.78. It then turned higher, completed wave 1 of the new nest, and pulled back in a proposed wave 2 flat correction against 4309.78.
The Forecast: Completion of Wave 2 Correction
Our initial analysis focused on Gold completing a corrective structure, labelled as wave ((c)) of 2. Because corrective phases present prime opportunities to align with the primary trend, we monitored support closely. The setup held firmly above our established Invalidation Level at 3997.04—and most importantly, above the wave (4) low (4309.78)—confirming the end of the correction and the start of a new bullish wave. See chart below
The Result: Impulsive Rally Hits 4630.22
Following the completion of wave ((c)) of 2, price action accelerated rapidly in an impulsive wave pattern. Gold broke above the wave (3) peak to confirm the next leg higher, surging over 2,000 points toward the 4630.22 level. Driven by this strong upside momentum, the invalidation level was adjusted higher to 4309.78 to align with the new market structure. See chart below
What’s Next for Gold in the Coming Weeks?
According to our latest chart update, the short-term outlook favors a minor wave ((iv)) pullback before a final push higher in wave ((v)). This move will complete wave 3 from the August 19, 2026 low, setting the stage for a broader wave 4 correction that should hold above the wave 2 invalidation point. Once wave 4 finishes, price should resume the main uptrend to complete the full impulsive cycle from the June 2026 lows before entering a larger correction.
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