AbansGlobalLimited

AbansGlobalLimited

EURUSD has taken out previous support at 1.1695 and print 1.1672 lows today. The currency has pulled back since then and is trading around 1.1710 for now. The entire drop from 1.2010 through 1.1672 has taken shape as a potential a-b-c until now. If a corrective rally, possibly another a-b-c is underway, EURUSD will stay above 1.1672 lows and push through 1.1880...

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US Dollar Index has managed to push through yet another high around 93.89 today, before reversing. The index trades around 93.48 levels for now and might be looking to produce a meaningful corrective drop. Remote probabilities still remain for a drop towards 92.50 levels, the fibonacci 0.618 retracement of the entire rally between 91.75 through 93.89 respectively....

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GBPUSD had a flash print to 1.2712 today before pulling back. It trades close to 1.2840 levels for now and should be underway towards a potential counter trend rally towards 1.3200 mark in the next few days. The drop between 1.3483 and 1.2712 could be seen as Wave A of the corrective drop. GBPUSD bulls might be poised to push through 1.3200 mark to terminate Wave...

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EURUSD dropped to yet another shallow lows around 1.1721 today before pulling back. Only a break above 1.1872 would confirm that the counter trend is still underway towards 1.1940/50 mark. A failure to break would confirm that EURUSD has Wave 2 in place around 1.1872, triangle termination. Since the lows are extremely shallow, possibilities still remain for ...

AbansGlobalLimited

Dow Jones (Spot) had closed around 27650 mark on Friday. The indice has carved a meaningful lower high around 29200 mark and is expected to remain below that. Further, the indices still holds classic Elliott Wave Structure 5-3 since 29600 highs in February. Looking at the lower degree wave counts, the drop between 29200 and 27448 could be potential Wave 1....

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US Dollar Index trades around 93.24 for now and a push through 93.65 would confirm that a bottom is in place around 92.69, potential Wave 2 here. In case of a bearish turn from here, the index would drop lower towards 92.40/50 before turning higher again. Having said that, it is always safe to remain long in the US Dollar Index with risk below 91.75 mark....

AbansGlobalLimited

EURUSD might be still working on its counter trend rally to terminate potential Wave 2. The expected zone for termination stays around 1.1920/30 levels, going forward. Having said that, the currency remains in control of bears and is safe to sell on rallies towards the above. Alternately, if EURUSD breaks below 1.1737 from here, it will confirm that Wave 2 is in...

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SPX500 had earlier dropped from sub 3600 through 3300 mark carving lower degree Wave 1. The indice has been unfolding Wave 2 since then, and might reach 3480/90 zone which is fibonacci 0.618 retracement of Wave 1. Once complete, bears should be back in control and resume lower towards 2500 and beyond. A larger degree Wave ((5)) might have terminated around sub...

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US Dollar Index might be a few pips away from 92.40/50 mark, which is fibonacci 0.618 retracement of the recent rally between 91.75 and 93.65 respectively. The index should be well support around that zone, and bulls would be back in control. Earlier US Dollar Index had rallied from 91.75 through 93.65 taking out resistance at 93.47, potential Wave 1. The index...

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EURUSD is taking its time to carve Wave 2. In case of an expanded flat, the recent rally could push towards 1.1930/60 in the next few trading sessions. If it reverses from current levels and breaks below 1.1837, it would confirm Wave 2 termination around 1.1860. Either way, EURUSD remains good to sell on rallies. Potential Wave 1 is already in place between 1.2010...

AbansGlobalLimited

Dow Jones has already carved a lower high around 29200 levels and confirmed a potential top early this month. Further, the drop from 29200 through 27450 has confirmed bears are in back in control. Furthermore initial support at 27500 is taken out along with the immediate trend line support. The indice has entered into the sell zone now and is always good to sell...

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US Dollar Index has held below its recent swing highs around 93.66 levels, while EURUSD has dropped to fresh lows today. This is a kind of bearish divergence and might indicate short term change in price action. Though the long term trend for US Dollar might have turned bullish, it would be too early to rule out possibility for a push towards 92.50 mark from here....

AbansGlobalLimited

EURUSD has slipped through 1.1737 lows today, before pulling back. The lower degree wave counts might be suggesting that Wave 1 and 2 might be in place around 1.1754 and 1.1915 respectively. If the above is correct, EURUSD is progressing within Wave 3 towards 1.1400/1.1500 respectively. Also note that prices should not exceed 1.1915 in that case. Alternately, if...

AbansGlobalLimited

SPX500 has produced a pullback rally from 3300 lows earlier. The indice has managed to reach above 3400 mark and might extend further towards 3480/90 levels soon. Please also note that 3480 is close to fibonacci 0.618 retracement of the drop between 3588 and 3300 respectively, hence potential resistance zone. Bears will be looking to get back into control if...

AbansGlobalLimited

US Dollar Index might be heading lower through 92.40/50 mark today, before terminating its corrective drop. The index is carving a potential lower degree Wave 2 not labelled on the chart here. Earlier, it had dropped through 91.75 levels and rallied back towards 93.65, taking out resistance at 93.47/50 levels. Thus confirming a potential bullish reversal ahead....

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EURUSD had been drifting sideways since printing 1.1915 highs, potential lower degree Wave 2. The currency might push through 1.1920 mark to re-test fibonacci 0.618 retracement of the drop between 1.2010 and 1.1750 respectively. At a larger degree, EURUSD has completed am impulse from 1.0636 lows through 1.2010 high on September 01, 2020. Since then it has...

AbansGlobalLimited

Dow Jones has held the classic Elliott Wave pattern 5-3 until now. The indices had earlier dropped from 29600 through 18200 in 5 waves, larger degree Wave (1) here. Subsequent rally has been corrective, hence 3 waves towards 29200, similar degree Wave (2) here. If the above holds true, the indice should ideally turn lower from here and push towards 18200 levels as...

AbansGlobalLimited

US Dollar Index is producing a corrective drop after printing highs at 93.65 last week. The rally between 91.75 and 93.65 was an impulse, confirming that bulls are here to stay for long. Since 93.65 highs, the indice has been producing a corrective wave that could potentially terminate around 92.30/40 mark. It is also the fibonacci 0.618 retracement of the...