XAUUSD shows a bullish impulse of the cycle degree that consists of primary sub-waves ①-②-③-④-⑤.
The current structure suggests that we are in the final wave ⑤.
Wave ⑤ resembles an impeding ending diagonal. That consists of five intermediate sub-waves (1)-(2)-(3)-(4)-(5).
The end of wave (5) could take prices up to 1807. At that level, wave (5) will be at 161.8% of wave (3).
However, an alternative scenario is suggesting an incomplete wave ④.
In that case, wave ④ could be a double three, consisting of intermediate sub-waves (W)-(X)-(Y).
In the short term, we can expect a double zigzag in wave (Y) near the 1680.63 area. The target is the lower trendline of wave (W).
Once the primary correction ④ ends, the market could ride wave ⑤.