Since there is nothing to analyze in the currency market, let us focus on the most burning issue of recent days. Notably, the presidency of Joe Biden is quite boring compared to the period when Donald Trump was president. Then, his name caught the headlines of all leading US and global editions. Trump lost the race and left the post, becoming one of those few presidents who failed to be re-elected for a second term. Nevertheless, the former president has already voiced his intention to run for the presidency in 2024. At the moment, the US is holding midterm elections. The result is likely to unveil which party will be in power.
All analytical agencies are pointing to a lower rating of Joe Biden and the Democratic party in 2022. The US citizens disapprove of high inflation and the risk of a recession. However, neither Joe Biden nor the Democratic party could be blamed for such a situation. Nevertheless, the US voters suppose that the actions of Joe Biden and its team are insufficient. That is why they are voting for Donald Trump and the Republicans. According to preliminary estimates, the Republican party will win a majority in the House of Representatives. Different resources are providing different data. However, in general, the information is almost the same, Thus, CNN reports that the Republicans now have 207 seats, whereas the Democrats have won 188 seats. To win a majority, a party has to receive 218 votes. Meanwhile, the number of Democrats in the Senate totals 48, while the number of Republicans is 47. Thus, the Republican party may win a majority in the lower chamber, whereas the Democratic party will gain control over the upper chamber.
However, data from other sources unveiled that Republicans surpassed Democrats in the Senate by one vote. I suggest waiting for the final results.
At the same time, former US President Donald Trump is calling on his supporters to protest. He believes that the elections are held with numerous violations at many polling stations. In his own social network "Truth Social", he is calling on all those who disagree with the results to take to the streets. Notably, Trump considers the lost presidential election to be rigged. However, Biden got several million votes more than others. Trump was also banned from almost all social networks for false statements even when he was president. That is why he had to create his own social network to stay in touch with his supporters and voters. In general, Donald Trump is a controversial person, but he remains a significant political figure in the United States. By the way, most Americans do not believe that there were any violations at the polling stations. More than 80% of respondents were in favor of this answer. I suppose that the Democrats will hold the Senate and the Republicans will win a majority in the House of Representatives.
Judging by the analysis, the formation of the upward section of the trend will become more complicated and will consist of 5 waves. There is a possibility that the instrument has already started the formation of the fifth wave. That is why it will be wise to buy with the target above the peak of wave c. The MACD indicator should be headed upwards. This section of the trend, which began its formation after September 28, is likely to be presented like a-b-c-d-e. Once it is finished, the instrument may start the formation of a new downward section.
