The XAUUSD chart presents a compelling Elliott Wave structure, suggesting a robust impulsive wave sequence within a broader trend. We are likely witnessing the completion of Wave 5, following a strong impulsive move in Wave 3, with Wave 4's corrective phase having consolidated gains. The current uptrend aligns with a bullish fundamental outlook, driven by heightened geopolitical tensions and a weakening USD, which traditionally bolster gold prices. The corrective Wave 2 appears to have respected key Fibonacci retracement levels, setting the stage for a potential retest of the upper trendline. Traders should monitor for a breakout above the recent high to confirm the continuation of the impulsive move, while maintaining a tight stop below the Wave 4 low to mitigate risk amidst potential fundamental shifts, such as unexpected central bank policy changes.