Elliott Wave Analysis 6/30/2026GoldOANDA:XAUUSDWavePoint_FX A key moment for a new bullish trend — we need to be patient. Weekly W momentum is currently in the oversold zone and is preparing to reverse. Therefore, there is a possibility that we are about to form a weekly bottom. Wave Structure We will look at the line chart for easier observation. * The corrective move on the weekly timeframe is showing an ABC pattern. Since the first downward move is an ABC pattern, it is very possible that we may have a new 12345 trend once wave C is completed, or a 335 Flat pattern. In that case, a bullish move could approach the previous high. * In terms of target, we are currently at the position where WC = WA. This is the first condition signaling the potential completion of wave C. * Looking at the liquidity blocks on the chart, we can see that price is currently sweeping down into the FVG liquidity void below 4005. This means that if this area is the zone where the corrective move ends, then at most, price may sweep strongly downward, leave a wick, and then rise sharply back above 4005. In the case where price closes strongly below this area, it may move through the liquidity void and continue down toward the high-liquidity zone below at 3353. Conclusion The confluence of weekly W momentum preparing to turn upward, price forming an ABC pattern, WC = WA at this area, and price approaching the boundary between high liquidity and low liquidity suggests that there is a high probability we will have at least a rebound from this zone. Analyzing the higher timeframe gives us an overall perspective. From there, if we see a structural shift on our usual trading timeframes such as H1 and H4, we can prepare for a new bullish move.