AbansGlobalLimited

AbansGlobalLimited

USDJPY in the previous week ended in a doji formation suggesting indecision after a sustained downtrend in the past few weeks. The doji has formed near the multiple support zone of 104.00 which has been tested many times, suggesting the currency could form a bottom at 104.00 from where it could rebound in the near term. On the daily charts as well the pair is...

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EURGBP has risen sharply from 0.8865 since 3rd September to make a high of 0.9291 (on 11th September) in merely 7 trading sessions, albeit post this sharp upside move the currency pair has been trading with a negative bias. This correction seems to be taking place in a downward sloping triangle, further it currently is also near the support of the 61.8%...

AbansGlobalLimited

Gold has been trading in a symmetrical triangle since September suggesting range bound trading, flat slope of the 20-day SMA supports the above observation. The longer and the medium term trend remain bullish for gold, suggesting this triangle could break on the upside. RSI is also flat supporting the above observation, the precious metal could experience a sharp...

AbansGlobalLimited

AUDJPY has declined sharply since 12th October after hitting a high of 76.52, in the past few trading sessions it has made small body candlestick formations suggesting support below current levels (74.73-74.10). Further it is also above the previous low of 73.94 which is the level from which the currency bounced from in September end, thus making this a potential...

AbansGlobalLimited

GBPJPY is trading near the 20-day SMA suggesting support near current levels, it currently also stands at the support of the upward sloping trend line signifying it could rebound in the coming sessions. On the short term 4-hour charts the pair has ended in a series of doji candlestick formation supporting our observation, RSI has also started rising which...

AbansGlobalLimited

DAX has been trading in the 12,330-13,350 range since the second half of July; currently the index is near the lower end of this range from where it is rebounding. The index made a small bullish candlestick formation on 22nd October with a low of 12,345 indicating that the range is being protected by the bulls on the downside; RSI has also turned up corroborating...

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USDCAD declined sharply from 1.3400 levels where it faced resistance in the last week of September to make a low near 1.3100 on 12th October. The pair has again approached this support zone and seems to be rebounding from there; this level also coincides with the upward sloping trend line drawn from the 1st September low. Further Canadian dollar is also making a...

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WTI crude oil has been trading range bound in the broader range of 36.00-41.50 since September first week, currently it is trading near the upper end of this range. Crude oil has shown complete lack of trend in either direction, flat slope of the 20-day SMA supports the above observation of sideways trend. On the weekly charts as well there is no clear direction...

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EURUSD has risen on Monday and is approaching its resistance of the downward sloping trend line indicating overhead resistance. Further the high made on 1st September remains protected till date and the pair continues to trade below it, suggesting the near term trend being weak. Though EURUSD ended in a small bullish candlestick formation on Monday, it has a...

AbansGlobalLimited

USDJPY has been trading near the 20-day SMA since the past few trading sessions, the slope of moving average is turning flat indicating that the downward momentum and trend has lost steam and the currency could rebound in the near term. Further the pair has also bounced from the upward sloping trend line on the daily charts signifying a rebound in the offing. Also...

AbansGlobalLimited

EURAUD pair has approached the resistance level of 1.6550-1.6570 from where it is facing rejection; the horizontal trend line indicates that this hurdle is likely to push the currency pair lower. Also in the previous sessions EURAUD made a candlestick with a long upper shadow signifying selling at higher levels and corroborating our corrective view. EURAUD could...

AbansGlobalLimited

GBPUSD has declined sharply from the high of 1.3484 that it hit on 1st September, to punch a low of 1.2674 on 23rd September; this was a very sharp decline post which Pound recovered till 1.3080 on 12th October and has been trading sideways since then. Currently Cable is at the support of the 20-day SMA indicating buying interest at lower levels, it is likely that...

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AUDNZD pair has approached the support level of 1.0725-1.0700 where it had earlier taken support in September end, thus making this a potential double bottom zone. AUDNZD is likely to find support at these levels and the pair could rebound towards 1.0750 & 1.0800 in the near term, while it sustains above 1.0690. Risk Disclaimer: Trading Forex or any CFD products...

AbansGlobalLimited

USDCHF has been trading range bound in the 0.9000-0.9300 range since the August and currently it is bouncing from the lower end of this range indicating a rebound is likely. Further the pair has ended in a bullish candlestick formation on 13th October; this bullish candlestick has been retraced on 13th & 14th October where buying is being seen. RSI is rising thus...

AbansGlobalLimited

USDCAD has registered a high of 1.3421 on 30th September, since then the currency pair has declined sharply to hit a low of 1.3099 on 12th October. Post the decline, the pair has ended in a small candlestick formation for two consecutive days (on Monday & Tuesday) indicating that the downtrend is losing steam and a rebound could be witnessed. It is also at the...

AbansGlobalLimited

AUDJPY has risen sharply from 24th of September after hitting a low of 73.96 to register a high of 76.54 on 9th October; it is also trading above the 20-day SMA. The cross pair has however faced resistance near 76.54 and has declined owing to the strength in Yen and currently stands at the support of 20-day SMA indicating a rebound in the offing. The pair could...

AbansGlobalLimited

GBPUSD has risen sharply from September low of 1.2674 to hit a high of 1.3084 on 12th of October; this rise has been after the sharp fall experienced by the pound in first half of September when it declined sharply from 1.3484 to 1.2674. Currently pounds stands at the 50% Fibonacci retracement resistance of the fall experienced in September, it is likely that this...

AbansGlobalLimited

EURJPY has ended in a doji candlestick formation for two consecutive days in the previous week near 124.75-125.00 range indicating resistance there; RSI has also flattened supporting the above observation. Further the currency pair is at the resistance of the downward sloping trend line signifying overhead resistance, it would be prudent to say that upside is...