AbansGlobalLimited

AbansGlobalLimited

USDJPY has continued to decline consistently since early June from 109.85 levels, owing to the strength in yen; the currency pair has declined and made a low of 104 in the second half of September, from where USDJPY has rebounded to hit a high of 106.12 (on 7th of October). The pair currently stands at the resistance of a downward sloping trend line where it could...

AbansGlobalLimited

GBPUSD had rallied through 1.3500 from 1.1414 lows in March 2020. The entire rally is being retraced at the moment and could reach up to 1.2200 mark going forward. The proposed structure could be A-B-C drop from 1.3500 levels. A probable Wave A looks to be complete around 1.2765 mark while an expanded flat Wave B might be underway towards 1.3000 at least, to...

AbansGlobalLimited

US Dollar Index had dropped to 93.80 levels yesterday before finding support. The index had bounced off from fibonacci 0.50 retracement of the recent boundary between 92.60/70 and 94.65 respectively. It is trading above 94.00 handle for now and might continue towards 96.00 levels to complete a 5 wave rally from 91.75. After the impulse wave is complete, we could...

AbansGlobalLimited

EURUSD might have hit resistance around 1.1720/40 zone, as the currency traders at 1.1715 mark for now. The currency has hit fibonacci 0.50 retracement of the drop between 1.1875 and 1.1610 respectively. A continued drop from here and below 1.1610, might push through 1.1500 completing 5 waves lower from 1.2010 mark. It would complete the impulse wave, leaving room...

AbansGlobalLimited

GBPUSD is unfolding into a corrective drop A-B-C towards 1.2200, after having print highs around 1.3500 on September 01, 2020. Further, the currency might have terminated Wave A around 1.2765 mark. Wave B might be unfolding as an expanded flat and terminate towards 1.3000 or push further through 1.3150/80 resistance zone. Either way, GBPUSD is expected to resume...

AbansGlobalLimited

US Dollar Index should resume higher from 94.00 levels, which is fibonacci 0.382 retracement of the recent rally between 92.60 and 94.65 respectively. A drop lower would find support around the 93.40/50 handle and also indicate that US Dollar Index is producing an extended Wave 3 rally going forward. Either way, index is expected to resume its rally either from...

AbansGlobalLimited

EURUSD has rallied in line wit expectations after printing lows around 1.1610/20 over the last week. The currency trades close to 1.1700 handle for now and is expected to face resistance around 1.1700/20 mark going forward. A push through 1.1720 would open doors for a test of 1.1780 levels before bears take control again. Either way, EURUSD is producing a counter...

AbansGlobalLimited

GBPUSD might have carved an intermediary low around 1.2675 levels last week. Also note that it has found support around the fibonacci 0.382 retracement of the entire rally between 1.1414 and 1.3500 levels respectively. The currency is trading close to 1.2900 mark for now and should be looking to push towards 1.3180/1.3200 levels in the next few trading sessions....

AbansGlobalLimited

US Dollar Index might have carved an interim resistance around 94.65 levels. It is seen to be retracing for now and might find support around 94.00 mark, the fibonacci 0.382 retracement of the recent rally between 92.60 and 94.65 respectively. A bullish reversal there would push through 96.00 levels going forward. Also note that probability remains for a push...

AbansGlobalLimited

EURUSD might have carved interim lows around 1.1610 levels. The currency has raised through 1.1660 levels for now and might be preparing for a meaningful pullback towards 1.1780/1.1800 levels before it finds resistance again. The drop from 1.2010 might be unfolding into lower degree Wave 4 or it could be still working on an extended Wave 3 lower. Either way, watch...

AbansGlobalLimited

GBPUSD might have carved intermediary lows around 1.2675 or could be close to carving. A push above 1.2800 would confirm that GBPUSD potential low is in place and the currency is unfolding its counter trend rally towards 1.3150/1.3250 respectively. The earlier drop between 1.3488 and 1.2675 (potential Wave A) could be retraced towards the fibonacci 0.618 levels...

AbansGlobalLimited

US Dollar Index might be close to hitting resistance after printing highs around 94.59 mark. Bulls seem to remain in control since 91.75 lows and might have carved Waves 1 and 2 around 93.50 and 92.60/70 respectively. If the above is correct, Wave 3 might be underway towards 96.00 and higher. It remains possible for a corrective drop towards 93.40/50 as sub waves...

AbansGlobalLimited

EURUSD might have carved interim lows around 1.1626 levels yesterday. It might be preparing for a counter trend rally towards 1.1800 levels before resuming its drop. The wave counts are suggesting that potential lower degree Waves 1 and 2 might be in place around 1.1754 and 1.1915 respectively and Wave 3 might be unfolding. A push beyond 1.1985 would confirm that...

AbansGlobalLimited

GBPUSD wave structure remains more clear than its counterparts EURUSD and US Dollar Index. The currency has terminated an impulse wave between 1.1414 through 1.3483 levels respectively. Further, the drop between 1.3483 and 1.2675 looks to be potential Wave A within the proposed corrective wave A-B-C towards 1.2200 mark. If the above proposed structure is correct,...

AbansGlobalLimited

US Dollar Index might have carved a meaningful higher low around 92.68/70 levels last week. The Wave structure might be construed as potential Wave 1 and 2 in place around 93.47 and 92.60/70 already. Since then a Wave 3 rally is unfolding and it could continue through 95.00 and higher going forward. US Dollar Index had earlier dropped in 5 waves from 103.00...

AbansGlobalLimited

EURUSD has managed to print yet anther low around 1.1650 today. Since the overall trend remains bearish its difficult to predict a counter trend rally and safe would be to keep selling if intraday rallies materialize. Immediate resistance is seen towards 1.1914, while support comes in around 1.1600 mark respectively. Earlier, EURUSD had complete 5 waves rally from...

AbansGlobalLimited

Dow Jones faces strong resistance around 29200 and any pullback rallies or counter trend should remain well capped below that. The index had closed around 27288 spot yesterday after printing intraday lows at 26700. It should be facing interim resistance around 27400/500 levels, which is past support turned resistance zone. A potential Wave 3 could be underway if...

AbansGlobalLimited

US Dollar Index has taken out resistance at 94.00 and print highs around 94.24 toady. The index is seen to be trading around 93.96 and might be underway to produce a corrective drop towards 92.60 levels going forward. If the above is correct, the index would stay below 94.24 and push lower from here. Initial support is seen through 93.28 mark, which is also...