Outlook:
As of late October, gold retains a constructive medium-term outlook, but the near-term is at a critical juncture. A successful upward breakout would reinforce bullish momentum. On the flip side, a failure to sustain support would raise the risk of a deeper corrective phase. Traders should monitor wave structure confirmation, support/resistance reactions, and macro triggers.
Major Key Points to Consider
- Bullish Scenario: Consider the long positions above from the 38.3% Fibonacci level – 50% Fibonacci levels at $3977 – $3851. A buy signal: the price holds above $4133. Stop Loss: below $4079, Take Profit: $4500 – $4600.
- Bearish Scenario: Breakout and consolidation below the level of $3851 will allow the pair to continue declining to the levels of $3725. A sell signal: the level of $3851 is broken to the downside. Stop Loss: above $4005, Take Profit: $3745 – $3725.
Technical Indicators
Trend: Short-term consolidation within a long-term uptrend
Support Levels: $3851/ $3725
Resistance Levels: $4133 / $4385
Momentum: Neutral to bullish on daily timeframe
Elliott Wave Analysis
On A Weekly Chart : A Rising Larger Wave of Degree 5 is developing on the weekly chart of Gold : XAU/USD. Within this Larger Wave of Degree 5, the smaller wave of degree 4 is developing as wave 3 from year 2022.
On A Daily Chart : An Ascending Smaller Wave of Degree 4 is developing on the Daily Chart of Gold : XAU/USD. Within this Larger Wave of Degree 4, the smaller wave of degree 3 is developing as wave (V) from Aug 2025. The Wave (III) and (IV) has been completed on Apr 2025 & Aug 2025 respectively. Gold has created a Symmetrical Triangle Pattern in its wave (IV) of Degree 3 previously. This confirms the Bullish Trend Continuation…
On A 4-Hours Chart : Wave (V) of Degree 3 is still developing on XAU/USD : Gold 4-Hours Chart. The smaller wave (iv) of degree 2 seems to developing as the wave ( iii) is completed in mid Oct 2025.
If this Presumption is correct then XAU/USD : Gold may continue to rise to the Price levels of $4500-$4600.
XAU/USD : Gold Current Rate in the Market
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of Webmile | Markets [A propriety of SingleDot Technologies]. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice. According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
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