XAU/USD: Elliott Wave Analysis and Forecast for 24.07.26–31.07.26

Major Takeaways Main scenario: Consider long positions from corrections above the level of 3,941.85. with a target of 4,900.00–5,610.00. A buy signal: the price holds above 3,941.85. Stop Loss: below 3,875.00, Take Profit: 4,900.00–5,610.00. Alternative scenario: Breakout and consolidation below the level of 3,941.85 will allow the asset to continue declining to the levels of 3,720.00–3,290.55. A sell signal: the level of 3,941.85 is broken to the downside. Stop Loss: above 4,0