XAUUSD on June 20, 2024 after bank holiday

Today will be announced the number of applications for unemployment benefits. This index will tell us how the current economic situation is affected by the Fed's policy on interest rates.
If these indexes decrease, it will tell us that the Fed's recent policies have not had a large impact on the economic situation, which will create conditions for the Fed to maintain its hawkish policy and then the USD will increase. and XAU will decrease
If this policy increases compared to the previous period, this signals that the Fed's policies are negatively impacting the economy, affecting all classes of people, creating pressure for the Fed to relax interest rates in the future. in the near future and this will cause the USD to decrease and XAU to increase.

Price broke out of the triangle wedge this morning with a strong candle. So we are leaning towards the ABC correction model
- So the price target of wave C as last time we measured at 2 price zones 2350 and 2365 price zone.
- After the price reaches this target, the price will continue to trend down to complete the large wave C in the D1 time frame.
- Our current trading plan is to wait until the wave C target at 2350 or 2364 to find a selling point or we can go to smaller time frames for scalping trading.

Comment:

The price has broken out above the 2341.8 zone, confirming wave C, so we will continue to observe the price in this zone to find a reversal signal.

Comment:

The price has surpassed the target zone 2350 and is moving towards the 2364 zone. We are watching for a reversal signal.

Comment:

The price has approached our target zone, which is a very good zone to set up a Sell order