The price is in correction, the probability of growth remains.

On the daily chart, an upward third wave of the senior degree within wave (5) and a corrective fourth wave of (5) has emerged. On the four-hour chart, the formation of wave c of 4 is also nearing completion, within which the fifth wave of the lower degree, wave (v) of c of 4, is currently unfolding. If this scenario proves correct, the XAU/USD pair’s upward trend is expected to continue toward the 4890.00–5585.00 zone with a critical stop loss at 3725.00.

The XAU/USD pair is testing 4100.00, aiming for a breakdown as investors leave safe-haven assets against geopolitical and monetary factors.

During the morning session, the XAU/USD pair is recovering after a decrease at the end of last week, resulting in renewing the 4150.00 level.

The XAU/USD pair is holding slightly above the key support level of the beginning of spring at 4300.00 amid the developing situation in the Middle East.