Wave Analysis:
Last trading Friday, the corrective wave (b) stretched slightly to the upper side but is yet to reach our turn around level 1.1862. We expect a possible extension of this correction to the upper side but should not go beyond 1.1862, where we'll be looking to sell the impulsive wave (c) with our first target at 1.1655 and the next target at 1.1120. This view can only be rendered futile in case the price end up breaking above 1.1862, if this is the case, then further bullish price rally with a target at 1.2282 is expected. This pair should be traded alongsidde GBPUSD, NZDUSD and AUDUSD. These pairs will have a similar price action during this intraday.
Trade recommendations:
Sell euro around 1.1862 with your first target at 1.1655 and the next target at 1.1120
Weekly Review
Deutsche Bank weekly review
Wave Analysis:
Perfectly as previous forecasted, during the past two weeks, Deutsche Bank shares has rose in value and is stil pretty much bullish both on the weekly and the monthly charts. We expect further rise to the upper side but should not go beyond 25.93. The anticipated bullish price rally is the continuation of the impulsive wave (1) to the upper side and should go beyond 20.98 where we'll be looking to buy the impulsive wave (3) with an ultimate target at 25.98. , in the meantime, if you didn't go long around 15.90, you could wait for pullback to the lower side then buy this shares.
Trade Recommendation:
we're long towards 20.98.
Bitcoin weekly review
Wave Analysis:
During the previous week ending 10th November 2017, a slight correction was seen when the price of Bitcoin dropped by almost 1500 US Dollars, however last week, Bitcoin gained more than 100% the value it lost and is currently above any recent highest high. We expect a possible extension of the impulsive wave (5) to the upper side with an ultimate target at 10,000.00. This upward rally is highly anticipated since the previous week's candle is a perfect bullish engulfing candle, and could culminate into a possible rally to the upper side.
Trade Recommendation:
Wait for a correction to the upper side then buy.
SPX weekly review
Wave Analysis:
For almost two decades now, this index has been in a constant uptrend, correcting itself slightly to the lower side before rising even higher. During the past two weeks, this index has corrected itself narrowly to the lower side but is still very bullish on higher time frames. We expect further corrections to the lower side before we re-buy the impulsive wave (5) with a target at 2700.00. During this week, w're waiting for a possible bearish correction towards 2558.8 or even lower, but should not go beyond 2543.3. This index should be traded alongside other indices such as ASX and others.
Trade Recommendations:
Buy SPX around 2558.8 with your target at 2700.00
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