AbansGlobalLimited

AbansGlobalLimited

EURUSD had rallied through 1.1900 mark as expected, before reversing sharply lower again. It had dropped through 1.1762 lows before pulling back higher again. The currency trades around 1.1870/75 levels for now and should ideally stay below 1.1900 mark, going forward. Bottom line remains that EURO should stay below 1.1965 to keep the bearish structure intact. The...

AbansGlobalLimited

Dow Jones is setting up to test 28400 highs again before finding resistance and reversing. The indice is trading around 28330 (spot) for now and might rally past 28400 today or tomorrow. Either way, bottom line remains that prices need to stay below 29600 highs to keep the bearish structure intact. Alternately, even if 29600 gives into bulls, please note that...

AbansGlobalLimited

US Dollar Index is seen to be trading below 93.00 mark for now and might drop to 92.65 levels before resuming rally. The indice had earlier rallied from 92.15 through 93.50 taking out resistance at 93.40 mark. The above impulse is been retraced for now and potential support zone remains around 92.65, which is fibonacci 0.618 retracement level. A push above 93.50...

AbansGlobalLimited

EURUSD has been drifting sideways before the much awaited fundamental event risk "Jackson Hols Symposium". Having said that intraday resistance remains around 1.1880/1.1900 mark. EURO is expected to hit fibonacci 0.618 retracement of its earlier drop from 1.1965 through 1.1754 around 1.1880/90 either today or tomorrow. A bearish reversal should be on cards...

AbansGlobalLimited

Dow Jones had rallied through 28400 levels yesterday before finding resistance and reversed sharply thereafter. The indice has managed to produce an engulfing bearish candlestick pattern on the 4H chart displayed, indicating a potential reversal ahead. Immediate support is around 27500 and a break lower would confirm a bearish reversal. Unlike SPX500 and NASDAQ,...

AbansGlobalLimited

US Dollar Index is trading around the 93.10 levels as we prepare this update and it could drop/correct lower towards 92.65 mark before finding support again. The impulse rally between 92.15 and 93.40/50 is being retraced at the moment. The index could reach fibonacci 0.618 retracement of the above rally towards 92.65 before it finds support. It is expected to...

AbansGlobalLimited

EURUSD is drifting sideways and trading around 1.1814 levels for now. It is expected to push through 1.1900 handle before turning lower again. The currency had dropped from 1.1965 levels through 1.1754 as an impulse wave. The drop is being retraced and is expected to reach fibonacci 0.618 levels (1.1887) at least before finding resistance. Ideally, EURUSD is...

AbansGlobalLimited

SPX500 takes out 3400 potential and prints fresh highs around 3440 today. Immediate support is now seen around 3354 mark and we need to see a break lower before confirming a top in place. The wave structure also changes with probable counts as follows: The drop through 2200 mark could be part of an expanded flat Wave ((4)), followed by an impulse rally towards...

AbansGlobalLimited

US Dollar had completed an impulse wave between 92.15 and 93.40/50 over the last week. As it would ideally do, the index is carving a corrective drop towards 92.60/65 mark before resuming its rally. Please also note that 92.60/65 is also fibonacci 0.618 retracement of the above rally, hence a bullish bounce remains high probability. Looking at the probable wave...

AbansGlobalLimited

EURUSD is producing the much awaited corrective rally towards 1.1880/1.1900 levels. The currency is trading around 1.1836 levels for now and should be looking to push through above levels. It had earlier dropped between 1.1965 through 1.1754 levels, completing an impulse. The drop could be marked as potential Wave 1 (not labelled here), which is being retraced by...

AbansGlobalLimited

Dow Jones holds below 29600 while NASDAQ and SPX500 print higher. This is a diverging scenario and a potential bearish turn should materialize soon. Dow Jones still holds the 5 Down - 3 Up Elliott Wave count valid with Waves (1) and potential (2) in place around 18200 and 28154 (spot) levels. If the proposed structure is correct, the indice should turn lower from...

AbansGlobalLimited

US Dollar Index had taken out resistance at 93.40 as expected, on Friday. Since then, the index has been pulling back and is expected to find support around 92.65 mark. Please note that 92.65 is the fibonacci 0.618 retracement of the recent rally between 92.15 and 93.40/50 respectively. Hence, probabilities remain high for a bullish reversal if prices drop through...

AbansGlobalLimited

EURUSD had dropped to 1.1754 from 1.1965 highs last week. The drop seems to be an impulse wave which is being retraced for now. The fibonacci 0.618 retracement level is seen through 1.1887 levels and probability remains high for a bearish bounce. The currency faces strong resistance around 1.1965 handle and prices should ideally remain lower. The corrective rally...

AbansGlobalLimited

SPX500 had reversed sharply after printing highs around 3399.5 (spot) on August 19, 2020. The drop towards 3354 could be lower degree wave i, which is followed by potential wave ii corrective rally yesterday towards 3390. If the above proposed wave structure is correct, SPX500 should stay below 3399.5 and turn lower towards 3200 support, as wave iii of a similar...

AbansGlobalLimited

US Dollar Index is trading close to 93.25 levels around this time and is looking poised to break higher towards 93.40 levels. Please note 93.40 is the initial resistance and triangle termination and a break higher confirms a meaningful bottom in place at 92.15. The rally between 92.15 and 93.26 will also be the first wave towards a much deeper correction. After a...

AbansGlobalLimited

EURUSD is trading around 1.1886 as we write this update and is extremely close to taking out 1.1780 support. This falls in line with our earlier projections for a meaningful top in place at 1.1965. The currency should pullback sharply thereafter and proceed to produce a counter trend rally possibly through 1.1880 mark. The waves could be now defined as Wave 1...

AbansGlobalLimited

Dow Jones might have carved a lower high around 28150 levels (spot), and has held below that until now. The indice futures are already trading lower around 27500/600 and it should break below the counter trend line support soon. The overall structure continues to remain bearish as the indice has carved larger degree Waves (1) and (2) around 18200 and 28150 levels...

AbansGlobalLimited

US Dollar Index seems to have terminated its 5 wave drop from 103.00 levels towards 92.15. Further, the index is looking poised to push through initial resistance around 93.40, which would complete its impulse rally from 92.15. It would be a confirmation of the beginning of a much deeper correction, if not a trend reversal. Bulls might be looking to target 94.00...