Last week, we witnessed a breakout of the US Dollar following Trump’s rise to power.
After this strong surge, there has been a shift in the larger channel pattern. The major T1 gold wave remains unfinished, and the price is currently moving from wave B to wave C within the a-b-c correction, progressing from L1 to T1.
With the uptrend still dominant, our primary focus will be on awaiting buying opportunities. Based on calculations, the ideal entry point is around 105.3.
This week is relatively quiet in terms of major news, but that doesn’t mean we should be complacent. Consistency and adherence to established risk management rules will ensure you reap the rewards you deserve.
Wishing all investors smart and effective strategies. Stay tuned for the next updates on the US Dollar.
By Pham Thanh Bien
