AbansGlobalLimited

AbansGlobalLimited

EURUSD might have terminated its 5th wave rally towards 1.1965 levels. We were giving more room towards a test of 1.2000 handle but seems like a potential top is in place. Immediate support is seen around 1.1780 mark and bears might be poised to break lower to confirm a top in place. It would be a good strategy to sell on rallies thereafter, for a target towards...

AbansGlobalLimited

SPX500 futures are trading around 3397 mark, and threatening to break above 3400 levels. In that case, would remain flat for a while waiting for a confirmed reversal. Initiating fresh long positions might be a bull trap better avoided. Until now a 5-3 structure seems most probable as the indice trades dangerously close to 3400 mark. Only a consistent break below...

AbansGlobalLimited

US Dollar Index bottom might carve a meaningful bottom around 92.00 levels. Please note that triangle termination is seen around 93.40 mark, and a break higher from here would confirm a potential bottom is in place at 92.15 levels. The larger degree wave structure also suggests a corrective drop (expanded flat) might be nearing completion around 92.00 mark. It...

AbansGlobalLimited

EURUSD potential triangle might be seen around 1.1780. The currency is into its last leg rally since then and is expected to reverse from 1.1960/1.2000 zone. If a top is in place at 1.1965, we should see a break below 1.1780 (the triangle termination). Either way, EURUSD might be setting up to reverse lower for several weeks to come. The larger degree wave...

AbansGlobalLimited

Gold might have topped at $2075 last week, or could be very close to carving a top. The drop from $2075 through $1862 was in 3 waves hence corrective. If Wave 3 is unfolding as an extended wave, it could be still unfolding and the metal should turn lower from here. Alternately, if the corrective drop is complete, Gold would continue higher above $2075. Would be...

AbansGlobalLimited

US Dollar Index print yet another low towards 92.48 today before reversing higher. The index is trading at 92.56 for now and might have completed 5 waves lower from 103.00 mark. The entire structure might still be a part of an expanded flat corrective drop 3-3-5, which completed its last wave sub-dividing into 5 waves. If the above is correct, US Dollar Index...

AbansGlobalLimited

EURUSD might be looking to print one last high above 1.1915 before reversing. The alternate triangle count discussed earlier seems to be unfolding now and until 1.1700 levels remain intact, possibilities of another high remain. At a larger degree, EURUSD seems to be near to completing the expanded flat wave structure 3-3-5. The last wave is unfolding into 5 waves...

AbansGlobalLimited

Dow Jones continues to probe resistance around fibonacci 0.88 levels (28000/200). A break below the counter trend line support and 26000 will confirm that a meaningful lower top is in place around 28000 mark. The indice had earlier drop from 29600 to 18200 levels in 5 waves, impulse Wave (1). The counter trend rally towards 28000 mark is labelled as corrective...

AbansGlobalLimited

US Dollar Index has failed to break above 94.00 levels for now. It might be unfolding as a triangle and drop marginally below 92.52 mark, before resuming higher again. The index might be preparing to rally towards 93.50/60 levels in the immediate future to terminate Wave E of the triangle. A final thrust wave could resume thereafter, which potentially breaks...

AbansGlobalLimited

EURUSD might be ready to drop lower from current price (1.1850) or from above 1.1915 levels. The currency has held above 1.1700 interim support until now, indicating a triangle underway since 1.1900 mark. If the above unfolds accordingly, EURUSD should push through 1.1915 high as a final thrust, before reversing lower again. It might drop lower towards 1.1740/50...

AbansGlobalLimited

SPX500 trades around 3370 for now, after hitting 3388 mark yesterday. Price action remains subdued for now but it is critical for 3400 to hold if bearish structure is to remain intact. Having said that, also note that upside would remain limited even if 3400 breaks. It is better to avoid getting into any bull trap if prices pierce above 3400, going forward. On the...

AbansGlobalLimited

US Dollar Index might be preparing for a push towards 96.00 levels at least. A break above 94.00 would confirm the same and rule out the possibility of a potential triangle underway. The US Dollar Index might have carved a meaningful bottom around 92.52 levels as bulls remain poised to push towards 95.00/96.00 levels. On the flip side though, if 94.00 resistance...

AbansGlobalLimited

EURUSD might have carved a potential Wave 2 around 1.1850 yesterday. It needs to break below 1.1700 handle to confirm with respect to price action though. If the above unfolds, it would confirm that EURUSD has topped and is pushing lower towards 1.1350/60 levels going forward. Another alternate is that of a triangle though, which points towards yet another high...

AbansGlobalLimited

Dow Jones has held below the lower high carved at 28160 on August 11, 2020; while SPX500 inched higher. This phenomenon is also a type of divergence, indicating potential reversal ahead. Dow Jones should break below 26000 initial support to confirm a top in place at 28160, which is also potential Wave (2) termination at a larger degree. The earlier drop between...

AbansGlobalLimited

US Dollar Index has retraced to fibonacci 0.618 level of the recent rally between 92.52 and 93.91 respectively. It is expected to turn higher from 93.00/10 levels and push through 94.00 levels, going forward. The projected targets remain above 96.17, if the above structure unfolds accordingly. An alternate count could be a potential triangle consolidation since...

AbansGlobalLimited

EURUSD might have carved a potential top around 1.1915 mark but needs to break below 1.1700 to confirm. Alternately, it could be within a triangle consolidation before rallying higher above 1.1915 mark. If the drop from 1.1915 through 1.1711 is Wave 1 and subsequent rally towards 1.1850 is Wave 2, EURUSD would break below 1.1711 as Wave 3 progresses. In case of a...

AbansGlobalLimited

SPX500 (spot) had rallied through 3381 levels yesterday before pulling back sharply. The indice managed to close around 3334 and also produced a classic Engulfing Bearish candlestick pattern on the daily chart. Yesterday's high could be seen as larger degree Wave (2) termination, signaling an end to the counter trend rally that begun from 2200 levels earlier. A...

AbansGlobalLimited

US Dollar Index managed to print 93.91 before pulling back today. It has remained shy by 09 points to clear 94.00 resistance. Going by the highest probable wave count, the index seems to have completed its first wave higher and is on its way to terminate second wave around 93.00/10. If the above unfolds accordingly, bulls are expected to be back again around...