How will XAUUSD fluctuate after Trump's case?
The failed assassination of presidential candidate Trump increasingly increased his odds of winning the election as well as helping the Republican party hold a large number of seats in the parliament. If the Republican Party prevails in the election, This will promote a reduction in USD interest rates. This is also the reason why XAU has increased in recent days.
Looking at H1:
- The purple 5-wave structure has been completed. This could be the wave 1 structure in a larger wave. and so next will be the corrective wave structure
- Like I said before, corrective waves often take a long time and move complicatedly, we need a lot of follow-up data to shape the corrective structure.
- But for simplicity we can expect a simple ABC structure to observe
- Then we temporarily have the target area for corrective wave C at 2 price areas: 2367.7 and 2349.3.
- The current plan is that we can sell at the price range of 2429 to the price range of 2440 and set the SL at the top of 2440.
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