XAU/USD: Elliott Wave Analysis and Forecast for 30.10.26–06.11.26

Major Takeaways Main scenario: Once the correction has been completed, consider short positions below the level of 4,420.00 with a target of 3,593.00–3,127.70. A sell signal: the local correction ends and the price holds below 4,420.00. Stop Loss: above 4,490.00, Take Profit: 3,593.00–3,127.70. Alternative scenario: Breakout and consolidation above the level of 4,420.00 will allow the asset to continue rising to the levels of 4,708.00–4,900.00. A buy signal: the level of 4,420.00 is broken