Elliott Wave Monitor

This chart shows a EUR/USD daily time frame analysis based on Elliott Wave Theory.

▫️The green wave (iii) completed at the 1.16321 high, followed by a correction forming wave (iv).

▪️This wave (iv) is expected to unfold as an irregular flat correction.

▫️The initial drop formed wave (a), then price rallied sharply in wave (b), exceeding the top of wave (iii) and reaching 1.18301.

▪️Currently, the market is likely starting wave (c), a downward move expected to complete the flat pattern.

▫️This wave could reach the 38.2% Fibonacci retracement level near 1.1100 before the uptrend resumes in wave (v).

GOLD Forecast

1. Weekly & Daily Outlooks

-> https://elliottwavemonitor.com/gold-forecast/

2. This Post Gives A Clearer Explanation If You’d Like To Understand Better.

-> https://elliottwavemonitor.com/elliott-wave-analysis-of-gold-july-12-2025/

GOLD: $3345

The 4-hour GOLD chart shows we're in a minor wave (2) correction within a developing intermediate wave ③, which itself follows the completion of primary wave ② on the daily timeframe.

▪️This corrective move unfolded as a complex WXY pattern and completed near the 78.6% Fibonacci retracement of minor wave (1).

▫️The primary scenario now anticipates the start of minor wave (3) to the upside, continuing the larger impulsive structure of intermediate wave ③.

▪️The invalidation level is set at 3246.56.

▫️As long as price holds above this level, a bullish breakout targeting 3440 and beyond remains likely.