Elliott Wave Analysis of XAUUSD – July 13, 2026GoldOANDA:XAUUSDWavePoint_FX D1 Timeframe D1 momentum is currently reversing upward. Therefore, there is a possibility that we will see an upward move at the beginning of next week. In terms of the wave pattern, an upward move is currently forming. However, we still need further confirmation to determine whether this move is only a corrective rebound or the beginning of a new trend. It is important to note that price has not created a new low, while D1 momentum is reversing upward. This could be the first signal of a new bullish trend. We will continue to monitor the market during the new week. H4 Timeframe H4 momentum is currently increasing. Therefore, the upward move may continue when the market opens next week. The current pattern could be either a 12345 structure or an ABC structure, and further confirmation is still required. However, in the near term, there is a possibility that we will see an upward move when the market opens on Monday. H1 Timeframe In terms of the wave pattern, the current upward move could be wave 1 in the form of a leading diagonal or wave A. The subsequent decline could be wave 2 or wave B. Therefore, the next upward move could be wave 3 or wave C. We will use the 4186 level as the key observation point: * If price fails to break above this level, there is a possibility that the market is forming an ABC corrective structure. * If price rises strongly and breaks above this level, a 12345 structure may be forming. On Friday, price touched the FVG zone and rebounded. However, when price entered the FVG zone, it also moved into the previous high at 4092. This invalidates the possibility that this high was a normal wave 1. Instead, there are two possible interpretations for the previous upward move: * Wave 1 in the form of a leading diagonal. * Wave A. Therefore, the subsequent decline could be wave 2 or wave B. It is important to note that price is approaching a major liquidity zone, as shown on the chart. Around the 4138 high, there is a significant amount of Stop Loss liquidity from previous Sell positions. Therefore, this area will act as a resistance zone. In particular, a bearish OB is located directly above this liquidity zone. Therefore, price may continue rising toward this OB. Trading Scenario The trading scenario should be determined after observing the actual price action when the market opens tomorrow.