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Legenda! Pensi che sia troppo patetico? Ma come dobbiamo chiamare un uomo, che è diventato il primo dell'Asia a vincere il campionato mondiale di scacchi a 18 anni e che è diventato il primo Gran Maestro indiano a 19? Fu l'inizio di un duro cammino verso il titolo di campione del mondo, l'uomo che divenne per sempre una parte della storia di scacchi. Un'altra leggenda nel team InstaSpot!
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For many weeks, I have been emphasizing that the U.S. news backdrop would be crucial for the market. However, this is no longer entirely the case. Even in the U.S., next week's economic calendar is relatively light, meaning that the influence of American news on the market will also be limited.
The dollar's growth has been on pause for a month and a half, while corrective wave structures continue to develop in both major pairs. These corrections could end soon, or they could take the form of a five-wave pattern. Identifying the exact end of a correction is always challenging, and confirming it only after the price has already dropped is not particularly useful. Therefore, I maintain a strategy of selling with confirmations at potential peak points of each upward corrective wave.
Although there are a few key U.S. economic reports scheduled, they are unlikely to generate strong market reactions. On Wednesday, the New Home Sales report will be released. Thursday will bring data on Durable Goods Orders, the second GDP estimate for Q4, and Initial Jobless Claims. On Friday, reports on the Core Personal Consumption Expenditures (PCE) Price Index, Personal Income, and Consumer Spending will be published. Among these, the GDP and Durable Goods Orders reports stand out, but even they might not attract much market attention.
Given this backdrop, low volatility is likely for both major currency pairs, and their corrections may extend for at least another week.Based on my analysis, EUR/USD continues to form a downward trend segment. The first wave of this segment appears complete, so a three-wave or more complex correction should be expected before new selling opportunities arise at peak points.
I anticipate a strong wave C within wave 2, though it may take a shortened form. An alternative scenario involves a five-wave structure within wave 2.
The wave pattern for GBP/USD also suggests a continued downtrend, with its first wave already completed. The next step is to wait for a clear corrective wave formation before looking for new short positions.
The minimum correction target is around 1.26 (already reached), while a more optimistic scenario suggests a move toward 1.28. Even at current levels, selling opportunities can be considered, as wave C is nearing completion. However, it is preferable to wait for additional confirmation signals, which may vary for different traders.
*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.
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