AbansGlobalLimited

AbansGlobalLimited

EURUSD had print 1.1712 lows before pulling back, and is seen to be trading around 1.1765 levels as we publish this update. The currency has remained shy of the support at 1.1700 bu few pips and it is quite possible that an interim low is in place. High probability remains that EURUSD is producing a counter trend rally towards 1.1840/50 mark, before reversing...

AbansGlobalLimited

DAX is trading around 13000 levels and is set to face resistance here. The fibonacci 0.618 retracement of recent drop between 13300 and 12250 is seen around 12900 mark. Probabilities remain high for a bearish reaction here. DAX wave structure remains clear with larger degree Waves (1) and (2) in place around 8200 and 13300 respectively. If the above holds well,...

AbansGlobalLimited

US Dollar Index has slipped to 93.25 levels for now and is expected to find support here. High probabilities remain for a meaningful bottom in place around 92.52 over the last week and is expected to hold. The index seems to have completed a complex corrective structure around 92.52, and is now expected to turn higher towards 98.00 levels at least, if not further....

AbansGlobalLimited

EURUSD might have carved a meaningful top around 1.1915 last week. The currency has dropped to 1.1720 levels today, before pulling back. In the process it had broken the immediate trend line support, which is now acting as resistance around 1.1800 mark. The wave structure might be unfolding as an impulse but we need to see another low below 1.1720 to confirm....

AbansGlobalLimited

Dow Jones might be testing its June highs of 27700 and should ideally stay below that, going forward. In case of a push higher, it should be shallow and 29600 should hold good. The larger degree waves are in place with Wave (1) dropping from 29600 through 18200, and Wave (2) corrective rally towards 27700 respectively. If the above is correct, Dow Jones should...

AbansGlobalLimited

US Dollar Index is seen to be trading around 93.56 levels as we prepare to publish, and could be eyeing to break above 94.00 interim resistance. The index has managed to complete 5 waves from 103.00 highs through 92.52 lows recently. The drop could be seen as the last wave, within the expanded flat correction (not seen here) at a larger degree. If the above...

AbansGlobalLimited

EURUSD seems to be close to completing an impulse wave from 1.1915 highs. A push below 1.1700 would be encouraging for bears and EURUSD would be good to sell on rallies thereafter. At the moment it is seen to be trading close to 1.1750/53 and is expected to break lower towards 1.17 to terminate the 5th wave. At a larger degree, EURO might have completed an...

AbansGlobalLimited

SPX500 continued its rally and hit 3353 levels yesterday. Futures are trading lower again around 3340 mark as we prepare to publish. It remains to be see how long the rally continues before bears are back. Bottom line, if the bearish structure need to hold, SPX500 should stay below 3400 mark and break lower. Immediate support is seen around the 3200 mark and a...

AbansGlobalLimited

US dollar Index might have carved a meaningful bottom around 92.52 levels and a break above 94.00 confirms. Even it the index cracks above 93.35, it would be enough to ascertain a bottom is formed. Bulls are looking to break above 98.00 levels over the next several weeks, which is previous Wave 4 of one lesser degree. A larger degree wave structure suggests that...

AbansGlobalLimited

EURUSD had pullback towards 1.1815 levels, low for the day. We still need to see it breaking below 1.1700 levels to confirm a top in place at 1.1915. Probabilities remain high for a bearish reversal, going forward. Even if EURO manages to print above 1.1915, the rise should be limited. The larger degree wave structure is suggesting that EURUSD might have completed...

AbansGlobalLimited

SPX500 had been inching higher again and managed to close around 3227 yesterday. The indice futures may be trading lower but we need to see a break below 3200 initial support to confirm a top in place. The wave structure remains unchanged with higher degree Waves (1) and (2) in place at 2200 and 3330 respectively. Until this holds true, SPX500 is expected to turn...

AbansGlobalLimited

US Dollar Index might have formed a bottom at 92.52 today or could be close to forming soon. The index is seen to be trading around 92.95 as we prepare to publish but a break above 94.00 would be required to confirm a bottom in place. The US Dollar Index might be completing a larger degree expanded flat structure and might resume higher towards 98.00 in the near...

AbansGlobalLimited

EURUSD prints marginally through 1.1915 before reversing lower again. The currency trades around 1.1840/45 levels, and could be ready to push further below 1.1700 mark. The above price action would also confirm a meaningful top in place at 1.1915 levels. EURUSD has been carving an expanded flat corrective structure at a larger degree, which seems to be complete...

AbansGlobalLimited

Dow Jones futures might have tested resistance around 27000 today, carving a lower high and holding below 27700 levels. The indices has carved higher degree Waves (1) and (2) around 18200 and 27700 respectively. If the proposed counts are correct, the indice should stay below 27700 mark ideally. A push through 27700 would still not change the bearish structure but...

AbansGlobalLimited

US Dollar Index might have carved a meaningful bottom around 92.55 level already. The lower wave counts could be as follows: The rally between 92.55 and 94.00 as potential Wave 1. The recent drop looks corrective and could be potential Wave 2 around 92.90. If the proposed counts are correct, US Dollar Index will stay above 92.55 and proceed towards 96.50 as Wave 3...

AbansGlobalLimited

EURUSD might have carved a potential top around 1.1909 levels last Friday. As a follow through, it had dropped to 1.1700 before pulling back. As we prepare to publish this intraday update, EURUSD trades around fibonacci 0.786 of its recent drop. A bearish reversal remains high probability as long as EURUSD holds below 1.1909 highs. A potential Wave 3 lower would...

AbansGlobalLimited

SPX500 (Spot) has print yet another high around 3294 levels yesterday. The indice is trading extremely close to its all time highs of 3400 but remains capped lower at least for now. High probability remains for a larger degree Wave (3) to resume lower, until 3400 resistance holds well. The indice has already managed to carve larger degree Waves (1) and potential...

AbansGlobalLimited

US Dollar Index might have carved a meaningful bottom around 92.55 over the last week. The index has followed through by rallying towards 94.00 levels before pulling back lower again. The retracement could be over at today's low around 93.27 levels or the index could complete a Gartley Structure towards 93.00/10 levels. Also note that 93.00/10 is the fibonacci...