XAUUSD has completed...from CLOVER GOLD FX

XAUUSD has completed a complex Elliott Wave structure, potentially finishing Wave 5 within a contracting triangle bounded by a descending resistance and ascending support. Price recently reacted from the upper boundary near the 3440 zone and is now testing the ascending support line. A corrective ABC structure is visible, suggesting internal wave completion. If price rebounds toward the red supply zone around 3360–3380 and faces rejection, it would confirm bearish continuation potential. However, a clean break and retest of the ascending trendline could accelerate downside momentum toward support and lower, confirming a bearish breakout from the wedge pattern.

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EURAUD on the 4H timeframe is showing a clear bearish structure as the market breaks below the major support zone that has now turned into strong resistance. After completing a corrective ABC cycle followed by a five-wave rising wedge pattern, price failed to sustain higher highs and reversed sharply from the upper trendline. The break and retest of the highlighted zone confirm seller dominance, and the consistent lower lows signal continuation of downside momentum. With the structure shifting fully bearish, the current breakout suggests that EURAUD may extend toward deeper downside targets as long as price remains below the resistance area, giving sellers control and increasing the probability of further decline.

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#DXY 🇺🇸 📍 The Dollar Index is the key chart to watch closely in the coming weeks. Every major move across FX, metals, and indices will be shaped by what happens here. As we always say, trading plan is everything!

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The complex correction is finally behind us, and the structure is shifting back to an impulsive phase. This is exactly why we don’t force trades during the chop, we simply wait for the clear path to reveal itself. Now that the roadmap is defined, the real opportunity begins. Patience pays.

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