AbansGlobalLimited

AbansGlobalLimited

EURUSD rally from Friday lows (1.1250) through 1.1336 today could be seen as counter trend. It has found resistance around the fib 0.618 retracement of earlier drop between 1.1370 and 1.1250. Potential wave counts are as follows: Earlier drop from 1.1400/20 through 1.1167 could be potential Wave 1, followed by a corrective rally towards 1.1370 as Wave 2. If the...

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SPX500 short term wave structure is looking encouraging for bears since 3230 resistance remains intact. The larger degree potential wave counts are as follows: SPX500 drop from 3400 through 2200 was Wave (1) and the subsequent counter trend rally which terminated around 3230 was Wave (2). If the above hold true, SPX500 should stay below 3230 and continue pushing...

AbansGlobalLimited

US Dollar Index had reversed from 96.24 levels yesterday and is looking to rally towards 100.56 at least. Potential wave counts are as follows: The rally between 95.70 and 97.75 as Wave 1; the subsequent expanded flat corrective wave towards 96.24 as Wave 2 and potential Wave 3 is now under way. If the above is correct, US Dollar Index would stay above 96.24...

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EURUSD has reversed from 1.1365/70 levels yesterday, and might be preparing to drop towards 1.0930 at least. It has held below 1.1420 highs as well, which add further confidence to the bearish setup. The potential wave counts from 1.1400 are: Drop from 1.1400 towards 1.1167 could be probable Wave 1/A, while the subsequent rally towards 1.1365 is Wave 2/B. If the...

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Dow Jones has been trading into the sell zone of its counter trend line of support since printings highs at 27580 early June. The index has lagged behind its counterpart SPX500, which terminated potential Wave 2 as flat. Dow Jones might be heading lower towards 23000 and further from here and it should stay below 27580 to keep the bearish structure intact over the...

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US Dollar Index might have finally carved an expanded flat Wave 2 correction around 96.24 today. Please note price has turned bullish just above the fibonacci 0.786 retracement at 96.16. The potential wave counts have been adjusted today: The rally between 95.70 and 97.75 as Wave 1, followed by an expanded flat a-b-c as Wave 2, potential termination around 96.24....

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EURUSD had raised through 1.1365 levels in the early hours of trade today, before reversing. Ideally, EURO should continue lower, breaking the trend line support and slipping below 1.1167 as well. It would be interesting to see it the currency drops as an impulse or just a correction. The potential wave counts have been adjusted: The drop from 1.1420 through...

AbansGlobalLimited

SPX500 has managed to hold 3230 highs carved in June 2020. The larger degree potential wave counts are as follows: The drop between 3400 and 2200 was an impulse, hence Wave (1)(not seen on the hourly chart). The counter trend rally through 3232 was a zigzag, A-B-C, labelled as Wave (2). If the above larger degree counts are correct, we are heading lower below 2200...

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US Dollar Index has been drifting sideways after hitting 97.15 levels yesterday. Please note that index had hit the backside of past support trend line, which acts as resistance now. After spending the last 24 hours into sideways consolidation, US Dollar Index might be wanting to attempt another high around 97.20/30 now. A break above 97.36 would confirm that...

AbansGlobalLimited

EURUSD had reversed from 1.1340 yesterday but still needs to break below 1.1220 to confirm that bears are in control. EURO traders around 1.1290 levels for now and might be carving a triangle consolidation before breaking below 1.1258. The short term/intraday target for EURUSD is seen towards 1.1230/35 levels. The potential wave counts on hourly charts are as...

AbansGlobalLimited

Dow Jones (Spot) might have hit resistance yesterday around 26200/300 levels before pulling back. Please note that Dow Futures is down towards 26000 levels, as we prepare to publish this article update. The indice had enough room to test 26800 levels and carve a Wave 2 flat, before reversing lower but it seems we are heading lower from here. Having said that, we...

AbansGlobalLimited

US Dollar Index has held above the 96.40 support yesterday. The index has managed to bounce through 97.15 levels today, before pulling back lower again. Next in line resistance is through 97.40/50 zone and bulls would remain poised to break higher. Potential wave counts also suggest that the US Dollar Index might have carves Waves 1 and 2 as labelled on the chart...

AbansGlobalLimited

EURUSD has bounced off the day's high yesterday round 1.1340. The zone was marked as resistance and a potential bearish reversal was expected. It needs to stay below 1.1340/50 mark to keep the bearish structure intact. The potential wave counts since 1.1400/20 are as follows. The drop between 1.1400 and 1.1167 has been labelled as potential Wave 1/A and subsequent...

AbansGlobalLimited

US Dollar Index might have completed a zigzag corrective drop from 97.80 through 96.75 levels. Also note that it remains close to fibonacci 0.618 retracement of the recent rally between 96.39 and 97.80, seen on the chart. Though it has entered the sell zone of the recent trend line support, a bounce back above 97.00 would confirm a potential bottom in place....

AbansGlobalLimited

DAX might have terminated its corrective rally around 12840 levels, potential Wave 2. The indice had dropped from 12920 highs around June 09 2020, through 11600 by June 15, 2020. This drop was clearly sub divided into 5 waves, potential Wave 1 here. Note that potential Wave 2 has exceeded the fibonacci 0.786 retracement by around 100 points. If the above counts...

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EURUSD has been drifting sideways since 1.1190 levels, within a 100 pip range. The currency is testing 1.1300 handle as we publish, and it is expected to continue lower until 1.1350 interim resistance is intact. The potential wave counts since 1.1420 are as follows: The drop between 1.1420 and 1.1167 could be Wave 1/A, while subsequent rally towards 1.1350 could...

AbansGlobalLimited

SPX500 might have completed the corrective rally that had begun from 2965 since June 15, 2020 yesterday. The indice rallied through 3165 before reversing lower again. The probable wave counts are as follows. The drop from 3230 through 2965 could be labelled as Wave 1, which was followed by a corrective flat that finally terminated at 3165 yesterday, Wave 2. If the...

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US Dollar Index might have completed its first wave around 97.36. High probability remains for a drop again towards 97.00/10 before resuming its rally. The index remains a buy on dips from here on. The wave counts are as follows. The rally from 95.70 through 97.50 as Wave 1, followed by a corrective drop towards 96.40 as Wave 2. Wave 3 might be in progress since...