#XAUUSD Weekly Analysis (Elliott Wave)
#Gold appears to have completed a major Wave III near the 5,400–5,500 zone and is now developing a larger corrective Wave IV. Current price action suggests bearish momentum remains intact, with downside targets around 3,638 (38.2% Fibonacci retracement) and potentially 3,184 (50% retracement) if selling pressure accelerates.
🔹 Trend remains corrective below recent highs.
🔹 Weekly structure favors further downside before the next bullish cycle.
🔹 Key support zones: 3,638 and 3,184.
🔹 Traders should watch for reversal signals near these levels for potential long-term buying opportunities.
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