XAUUSD Elliott Wave Analysis – July 30, 2026GoldOANDA:XAUUSDWavePoint_FX D1 Timeframe The current price data continues to suggest that price may be developing within a triangle pattern. At this stage, we should not rush to label the wave structure. Instead, we should remain patient and wait for price to confirm the direction of the breakout. A triangle pattern commonly appears as the final wave in a WXY corrective structure or as the penultimate wave within a larger wave sequence. D1 momentum is currently rising. We expect price to continue moving higher and break above 4161.9. If this happens, the probability of a bullish pattern forming will be strengthened. H4 Timeframe A previous ABC corrective structure was completed, after which price rebounded. Price is currently undergoing a bearish correction. H4 momentum is in the overbought zone and has started showing signs of a bearish reversal. If H4 momentum moves down into the oversold zone without a significant price decline—meaning the H4 candles have relatively small bodies and price does not break below the previous low—there is a strong possibility that price will make a powerful upward move once H4 momentum reverses to the upside. Conversely, if H4 momentum moves into the oversold zone while price declines sharply and breaks below the previous low, price may continue lower and break below the 3959 low. H1 Timeframe D1 momentum is currently rising, so there is a high probability that today’s daily candle will close bullish. This scenario will be further supported if H4 momentum moves into the oversold zone while price fails to form a new low. On the H1 timeframe, the previous bullish move left a wide FVG below the current price. This is a very positive signal, indicating that significant institutional order flow has entered the market. Looking at the current bearish correction, price appears to be developing an ABC corrective structure. Waves A and B have already been completed, while price is currently moving within wave C. The key target, where wave C equals wave A, is located at the confluence with the 50% level of the FVG. This area may act as a strong support zone in which to look for Buy opportunities.