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fxJun 17, 2026, 4:58 AM

Gold Elliott Wave Signals Bullish Continuation

Gold (XAU/USD) has completed its initial decline from the April 17 peak and is now expected to rally in a three-wave corrective structure, according to an Elliott Wave analysis.

XAUUSD

Gold (XAU/USD) has completed the corrective cycle that began from the April 17 peak, with the decline ending at $4025. This level marks the completion of wave (a) or the first leg lower.

The pair is now positioned for a three-wave corrective rally, suggesting a bullish continuation in the near term. The impulsive structure from the April high supports the view that the overall trend remains upward, with the current move acting as a pause before further gains.

Source: FXStreet Forex News