Elliott Wave Analysis XAUUSD – April 2, 2026GoldOANDA:XAUUSDWavePoint_FX Momentum – D1 momentum is showing signs of a bearish reversal → If the downside is maintained into today’s D1 close, the reversal will be confirmed → This would suggest at least a few days of decline or sideways movement – H4 momentum is decreasing → The current bearish or sideways move may continue for the next 2–3 H4 candles – H1 momentum is in the oversold zone and preparing to reverse upward → A short-term bounce is likely on H1 Elliott Wave Structure On D1: – A bearish candle is forming along with a momentum reversal signal → This suggests Wave 4 may be nearing completion → If the D1 candle closes with sustained bearish momentum: – Wave 4 is likely completed – The market may enter Wave 5 with a downside target at 3791 On H4: – A strong bearish candle has appeared – Momentum continues to weaken → If price closes below 4609: – This provides a necessary condition for Wave 4 completion → If price breaks below 4358: – This confirms Wave 4 has completed – The downside target at 3791 becomes active On H1: – Momentum is preparing to reverse upward → A short-term corrective move is likely – Price is currently within a liquidity zone (yellow area) → The lower boundary at 4641 may act as support → Price may bounce following H1 momentum → If the current decline is counted as Wave 1: – The upcoming bounce would be Wave 2 – The expected target is the 0.618 Fibonacci retracement of Wave 1 → This is a potential zone to look for sell entries to end Wave 2