Elliott Wave Analysis – XAUUSD 9/7/2026GoldOANDA:XAUUSDWavePoint_FX D1 Timeframe D1 momentum is still rising, so price may continue moving higher or develop sideways in the near term. Looking at the wave structure, the previous decline may have formed wave A, while the current upward move may be developing as wave B. The potential target zone for wave B is around the OTE zone of wave A, near 4563. We should combine this price zone with D1 momentum. If price approaches the 4563 area while D1 momentum moves into the overbought zone, we can start looking for potential sell opportunities following a bearish reversal in D1 momentum. If this scenario develops, the next decline may form wave C, completing the overall corrective structure of wave 2. After wave 2 is completed, the next bullish move may develop as wave (3) within the larger structure. A key characteristic of wave (3) is that price usually rises strongly and steeply, so this will be an important confirmation that the larger bullish wave structure is developing.