Elliott Wave analysis for XAUUSD on 4H charts. Analyzing the final wave (v) target of the correction following the $5,800 peak.
Global economic uncertainties pushed Gold prices to an unprecedented $5,800 at the start of 2026. However, under Elliott Wave principles, every significant rally must undergo a healthy correction. Our current charts indicate that Gold is completing the "C" leg of its macro-scale wave (4) correction.
Elliott Wave Analysis: As seen on the chart, following the main wave (iii) decline, the price staged a corrective bounce labeled wave (iv). This rally met decisive resistance at the 0.50 Fibonacci level ($4,765).
The current wave (v) represents the final impulsive leg down intended to clear the remaining liquidity of the correction.
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Target Level: $4,082 (Alignment of previous cycle supports and wave length projections).
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Invalidation Point: $4,800. As long as the price remains below this threshold, the bearish momentum is expected to intensify.
Conclusion: For those looking to "buy the dip," the $4,000 - $4,100 band is of vital importance. Once our Elliott Wave count is finalized in this zone, it could serve as the launchpad for a new major wave (5) rally.