The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Strangely enough, important events are scheduled for next week in the United States. While the UK and the Eurozone are already beginning their Christmas and New Year celebrations, America continues to operate. On Tuesday, reports on GDP, durable goods orders, and industrial production will be released. These are certainly not trivial and insignificant data releases. On Wednesday, initial unemployment claims will be published. After that, the limit of significant events will be reached even for the United States. Then comes Christmas.
The news backdrop next week will be limited to the U.S., and the aforementioned reports could add some excitement to the pre-New Year routine. However, I want to emphasize again that despite a multitude of important events over the last two weeks, the market has reacted quite modestly. Consequently, the two reports expected next week are unlikely to significantly wake up the market. I cannot say whether the market will lean towards buying dollars since the current wave analysis continues to indicate alternating corrective wave sets. Thus, from their current positions, both instruments may continue to build upward segments of the trend but could also start new downward movements. I believe that until the end of the holidays, we will not see any interesting movements or changes in the current wave layout.
Based on my analysis of EUR/USD, I conclude that the instrument continues to build an upward trend. Donald Trump's policy and the Federal Reserve's monetary policy remain significant factors in the long-term decline of the U.S. dollar. The targets for the current trend segment could extend up to the 25th figure. The current upward wave collection is starting to develop, and I believe we are now observing the formation of an impulse wave set, which is part of global wave 5. In this case, we should expect growth with targets around 1.1825 and 1.1926, corresponding to 200.0% and 261.8% on the Fibonacci scale.
The wave structure for GBP/USD has changed. The downward corrective structure a-b-c-d-e in C at 4 appears to be complete, as does the entire wave 4. If this is indeed the case, I expect the primary trend segment to resume building, with initial targets around the 38 and 40 figures.
In the short term, I anticipated the construction of wave 3 or C, with targets located around the 1.3280 and 1.3360 levels, equating to 76.4% and 61.8% on the Fibonacci scale. These targets have been reached. Wave 3 or C continues to develop, but three unsuccessful attempts to break the 1.3450 mark, which corresponds to 61.8% on the Fibonacci scale, are causing concern—could wave D in 4 now be starting?
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
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