XAUUSD Bearish Trend Started for Correction ABC
Based on recent analyses, gold (XAUUSD) has been on an upward trajectory, reaching record highs above $2,900 in early February 2025. This surge is attributed to factors such as newly imposed tariffs and inflation concerns.
However, some Elliott Wave analyses suggest that gold may be entering a bearish correction phase. For instance, a head and shoulders pattern has been identified, indicating potential for a downward move if key support levels are breached.
Additionally, forecasts indicate that the XAUUSD pair is correcting and may continue to decline, with an estimated pivot point around 2,788.71.
In summary, while gold has recently achieved record highs, certain technical indicators and patterns suggest a possible bearish correction in line with Elliott Wave Theory.
Based on recent analyses, gold (XAUUSD) has been on an upward trajectory, reaching record highs above $2,900 in early February 2025. This surge is attributed to factors such as newly imposed tariffs and inflation concerns.
However, some Elliott Wave analyses suggest that gold may be entering a bearish correction phase. For instance, a head and shoulders pattern has been identified, indicating potential for a downward move if key support levels are breached.
Additionally, forecasts indicate that the XAUUSD pair is correcting and may continue to decline, with an estimated pivot point around 2,788.71.
In summary, while gold has recently achieved record highs, certain technical indicators and patterns suggest a possible bearish correction in line with Elliott Wave Theory.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.