AbansGlobalLimited

AbansGlobalLimited

AUDUSD currently stands at the 0.7570 support zone from where it is rebounding; this would be the second time (previously in Feb) that the pair is bouncing from this support zone, thus forming a potential double bottom. It formed a “Hammer” candlestick formation on 1st April suggesting buying interest at lower levels and further upside potential. It would be...

AbansGlobalLimited

Gold has been trading in a lower top lower bottom formation since the last few months, however currently it has bounced from $1,680 level twice, thus it could form a double bottom near $1,680. We are of the opinion that it could rebound sharply while it holds on to this support zone; further 20-day SMA has flattened indicating that the downtrend to have ceased. It...

AbansGlobalLimited

Crude oil has been trading in a higher top higher bottom formation suggesting the trend to be positive in the near term. However it has experienced correction since early March and stands at the 61.8% Fibonacci support of the rise seen from 22nd January to 8th March indicating a rebound in the offing. It would be prudent to say that Crude oil could advance towards...

AbansGlobalLimited

EURUSD has experienced some correction in the near term and currently stands at the horizontal support, suggesting buying at lower levels. Further the pair also looks to be trading in a downward sloping channel; having bounced from the lower channel (on 9th March) it is likely to rise in the coming sessions. It would be prudent to say that EURUSD could advance...

AbansGlobalLimited

USDCHF is trading in a higher top higher bottom formation suggesting the trend to be positive in the near term, positive slope of the 20-day SMA supports the above observation. Further it currently stands at the 23.6% Fibonacci support of the rise seen from 6th Jan to 9th March, suggesting a rebound in the offing. It is likely that USDCHF could advance towards...

AbansGlobalLimited

EURJPY is trading in a higher top higher bottom formation suggesting the trend to be positive in the near term, further it is also trading above the 20-day SMA supporting the above observation. The current decline experienced in the past two trading sessions looks to be an organic correction and is likely to find buyers. It is likely that EURJPY could advance...

AbansGlobalLimited

Gold has been trading in a lower top lower bottom formation on the daily chart since the last couple of months. It currently stands at the 23.6% Fibonacci resistance of the decline experienced from 6th Jan to 8th March; further RSI in sell mode supports the bearish view. It is likely that gold could decline towards $1,710 and $1,700 while it sustains bellow...

AbansGlobalLimited

Platinum is currently facing resistance near the 20-day SMA as evident from the 3 consecutive doji formations; further on 11th March it ended in a “Gravestone” doji formation signifying sellers at higher levels. RSI has also flattened supporting the above observation and indicating that the uptrend is losing steam. It would be prudent to say that Platinum could...

AbansGlobalLimited

Natural gas has approached its support zone of 61.8% retracement of the rise experienced from 22nd January to 17th February indicating limited downside potential. Further it ended in doji candlestick formations near this support zone and has risen slightly, suggesting a sustained rebound could be witnessed. It would be prudent to say that natural gas could rise...

AbansGlobalLimited

Crude oil has been trading in a higher top higher bottom formation on the daily as well as the weekly charts indicating the trend to be bullish in the near term. In the past couple of days crude has witnessed correction which seems to be organic, further it is approaching the 23.6% retracement level of the rise experienced from 5th January to 8th March. It is...

AbansGlobalLimited

AUDUSD has been in a medium term uptrend as evident from the daily and the weekly chart, albeit it has witnessed near term organic correction since the last week of February. Currently the pair stands at the multiple support zone suggesting buying could be witnessed near current levels, short term base could be formed and a rise could unfold from this support...

AbansGlobalLimited

USDCAD ended in a long legged doji on 4th March after testing 1.2580 level which is a strong support zone for the currency pair, this suggests accumulation at lower levels. RSI is flat suggesting the downtrend is losing steam; higher timeframe charts also support the above observation. It is likely that USDCAD could rebound towards 1.2685 and 1.2740 while it...

AbansGlobalLimited

Platinum has been trading in a higher top higher bottom formation on the daily as well as the weekly charts suggesting the trend to be bullish in the near and the medium term. Further it also stands at the 61.8% Fibonacci support of the rise experienced since 28th January to 16th February indicating that a near term bottom could be formed near current levels. It...

AbansGlobalLimited

Silver has been trading in a higher top higher bottom formation suggesting the trend to be positive in the medium term; higher timeframe charts confirm our bullish view on silver. Further it stands at the 50% retracement level of the rise experienced from 30th November 2020 to 1st February 2021 indicating support below current levels. It would be prudent to say...

AbansGlobalLimited

Crude oil has been trading in a higher top higher bottom formation suggesting the trend to be positive in the medium term; currently it stands at the 20-day SMA indicating it could rebound from current levels. RSI has dipped, albeit remains in the buy zone supporting the above observation and indicates further upside potential. It would be prudent to say that...

AbansGlobalLimited

Natural gas is currently declining since mid-February and is approaching the 50% retracement level at $2.73 of the rise experienced from January end to mid-February. It is likely that Natural gas would rebound from these levels in the coming sessions, on the higher timeframe charts as well it is approaching support zone. It would be prudent to say that natural gas...

AbansGlobalLimited

Platinum has experienced a strong breakout in the first half of February after which it touched a high of $1,337 on 16th February, since then it has experienced a correction and is currently trading near $1,245. Further it is near the 38.2% retracement support of the rally experienced from 28th January to 16th February, suggesting a rebound is likely from current...

AbansGlobalLimited

EURJPY had ended in a long bearish “Marubozu” candlestick formation on 17th February 2021 after facing resistance in the 128.00-50 range suggesting overhead resistance, further it has ended in doji candlestick formations in the last two trading sessions suggesting rejection from higher levels. It would be prudent to say that EURJPY could decline towards 127.25 and...