XAU/USD: Elliott Wave Analysis and Forecast for 17.07.26–24.07.26

Major Takeaways Main scenario: Consider short positions from corrections below the level of 4,205.80 with a target of 3,720.00–3,290.55. A sell signal: the price holds below 4,205.80. Stop Loss: above 4,275.00, Take Profit: 3,720.00–3,290.55. Alternative scenario: Breakout and consolidation above the level of 4,205.80 will allow the asset to continue rising to the levels of 4,900.00–5,610.00. A buy signal: the level of 4,205.80 is broken to the upside. Stop Loss: below 4,140.00