AbansGlobalLimited

AbansGlobalLimited

EURUSD had dropped through 1.1780 lows over the last week and remained shy of breaking below 1.1750 initial support. The impulse drop 1.2010 might be complete at 1.1780 and EURUSD might be underway to produce a counter trend rally. Resistance should remain strong around 1.1900/50 handle and bears will remain poised to push lower again. Alternately, EURO could drop...

AbansGlobalLimited

SPX500 finally reversed sharply from resistance zone around 3600/10 levels. The indice still needs to break below 3350 immediate support to confirm a top in place. Also the trend line support since March 2020 lows at 2200 would break, and SPX500 would enter the sell zone. High probability remains for a larger degree Wave 5 termination around 3588 levels. If the...

AbansGlobalLimited

US Dollar Index rally that had begun from 91.75 lows early this week, might be looking to push through 93.50 to complete an impulse. This will confirm that bulls are back in control and a meaning low is in place at 91.75. Today we might have the necessary trigger to clear past 93.50, with NFP scheduled. Once a lower degree Wave 1 is in place, we we shall present a...

AbansGlobalLimited

EURUSD has been drifting sideways for now and should find resistance around 1.1840/50 mark before it turns lower again. The currency is trading around 1.1845 mark for now and bears should be poised to break below 1.1750 support. This confirms a top in place around 1.2000 levels and that bears are here to stay longer. As discussed yesterday, we shall bring up a...

AbansGlobalLimited

NZDUSD might have carved a meaningful top around 0.6790 levels yesterday. It is been successful in taking out past resistance around 0.6780/90 levels as well. Ideally, bulls should take a break as bears are back in control. Immediate support is seen around 0.6500 mark and a break lower would certainly confirm that NZDUSD is heading lower towards 0.6000 levels in...

AbansGlobalLimited

US Dollar Index might have carved a meaningful bottom around 91.75 levels. The index had reached 93.07 today and is expected to take out 93.50 resistance as well. A impulse rally is expected to be complete around 93.50 levels, confirming that bulls are in total control. Also note that the entire drop from 103.00 through 91.75 is also an impulse and a corrective...

AbansGlobalLimited

EURUSD seems to have topped around 1.2000 handle and might be heading towards 1.1100/50 levels. The fibonacci 0.618 retracement of entire rally between 1.0636 and 1.2010 is seen around 1.1100/50 hence a bullish bounce remains possible. It is too early to predict the above but probabilities remain high as EURO completes an impulse around 1.2000 mark. Ideally it...

AbansGlobalLimited

GBPUSD reversed just 20 pips shy of the 1.3500 mark. High probability remains that it has completed 5 waves rally from 1.1414 through 1.3482 levels. If the count is correct, we should witness a similar degree corrective wave materialize towards 1.2100/1.2200 in the next few weeks. Immediate support is seen towards 1.3050 and a break there would confirm bears are...

AbansGlobalLimited

US Dollar Index seems to have resumed its rally towards 94.50 levels in the near term. The index had dropped to 91.75 levels yesterday before pulling back and is trading close to 92.58 for now. The impulse drop from 103.00 looks complete now as bulls prepare to produce a corrective rally at least. If the above counts hold, US Dollar Index should stay above 91.75...

AbansGlobalLimited

EURUSD has reversed sharply after hitting 1.2010 yesterday. The currency has dropped over 150 pips and is seen to be trading around 1.1865 for now. It is expected to break below 1.1754 mark and confirm a top is in place. As discussed earlier, a 5 wave rally from 1.0636 lows in March 2020, looks complete around 1.2010. If the count is correct, we should witness at...

AbansGlobalLimited

GBPUSD has hit yet another high today around 1.3482 mark. It was expected to cross 1.3500 resistance but nonetheless bears seem to be poised to get back in control. The currency trades around 1.3410/20 for now and is producing an engulfing bearish candlestick pattern on 4H time frame. We shall be prepared for yet another push through 1.3500 handle before giving in...

AbansGlobalLimited

US Dollar Index had pushed through fresh lows around 91.75 today before reversing. It is trading back above 92.00 handle as we prepare this update. The index seems to have completed 5 waves drop since 103.00 highs in March 2020. If the above proposed counts are correct, bulls might be setting up for a rally through 94.00 and beyond over the next few weeks to come....

AbansGlobalLimited

EURUSD prints fresh highs around 1.2010 levels today before pulling back. It is trading around 1.1970/75 for now carving a potential shooting star candlestick pattern on the 4H time frame. Probabilities remain high for a bearish reversal from here but only a break below 1.1750 would confirm. The rally from 1.0636 has unfolded into 5 waves and might be close to...

AbansGlobalLimited

Dow Jones might have carved a lower to around 28733 (spot), on August 28, 2020. The indice is trading around 28450 levels for now and could break below immediate support around 27526 mark in the next few sessions. Bottom line remains that the indice should stay below 29600 to keep the above bearish structure intact. The wave structure remains in favor of bears...

AbansGlobalLimited

US Dollar Index has remained shy by just 2 points from hitting fresh lows below 92.13 levels. The index had dropped to 92.15 levels today, before pulling back. We would be prepared for another low below 92.13, before turning bullish again. Ideally, the US Dollar Index would confirm a bottom formation only after 94.00 resistance is taken out. But with respect to...

AbansGlobalLimited

EURUSD has managed to carve a lower top around 1.1948 mark today. If this holds, EURO could reverse sharply lower from here at least towards 1.1400 levels if not further. At a larger degree, the impulse wave that had begun from 1.0636 in March 2020 seems to be complete at 1.1965. Also note that the entire could be a part of correction and potential trend might...

AbansGlobalLimited

SPX500 Spot rallied yet another day and hit 3501 before pulling back. There are no signs of a potential bearish reversal yet but upside remains limited hence it is good to avoid getting into a bull trap. The indice has closed around 3484 yesterday but futures are trading higher around 3507 as we prepare this update. It has managed to produce a tweezer top...

AbansGlobalLimited

US Dollar Index had dropped towards the support zone defined around 92.45/65 yesterday before reversing higher again. This was in line with expectations as fibonacci 0.618 was tested right before a bullish bounce. Ideally the US Dollar should turn higher towards 95.60 levels from here. Bottom line is that 92.15 should stay intact for the above bullish structure to...