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By tradinglounge · Posted
ASX: BRAMBLES LIMITED - BXB Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart) Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with BRAMBLES LIMITED - BXB. We see that BXB seems to have completed wave (ii)-orange, but needs to push a little higher to confirm this view. And wave (iii)-orange may return to push higher. ASX: BRAMBLES LIMITED - BXB Elliott Wave Technical Analysis ASX: BRAMBLES LIMITED - BXB 1D Chart (Semilog Scale) Analysis Function: Major trend (Minuette degree, orange) Mode: Motive Structure: Impulse Position: Wave (iii)-orange Details: The short-term outlook shows some evidence that wave (ii)-orange has ended, wave c-grey has fully broken down into 5 waves. A push above 14.60 would renew this bullish view. Invalidation point: 12.70 Confirmation point: 14.60 ASX: BRAMBLES LIMITED - BXB Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: BRAMBLES LIMITED - BXB Elliott Wave Technical Analysis ASX: BRAMBLES LIMITED - BXB 4-Hour Chart Analysis Function: Major trend (Sub minuette degree, grey) Mode: Motive Structure: Impulse Position: Wave ((2))-navy of Wave i-grey Details: The shorter-term outlook suggests that wave c-grey of wave (ii)-orange appears to have completed its five-wave structure, indicating that it might have ended, and wave (iii)-orange could be resuming to push higher. However, it is too early to draw a definitive conclusion. The price needs to move above 14.60 to clarify this view, while it must remain above 13.88 to keep this wave count valid. Invalidation point: 13.88 Confirmation point: 14.60 Conclusion: Our analysis, forecast of contextual trends, and short-term outlook for ASX: BRAMBLES LIMITED - BXB aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends. Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.xom get trial here! -
By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, NEO/ U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Double Corrective Position: Wave Y Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level NEO/ U.S. dollar(NEOUSD)Trading Strategy: The second wave corrects before rising again in the third wave. In a Double Corrective pattern, the current state is a decline in Wave Y, so wait for the correction to complete to re-enter the uptrend. NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H4 Chart, NEO/ U.S. dollar(NEOUSD) NEOUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Double Corrective Position: Wave Y Direction Next higher Degrees: Wave (II) of Impulse Wave Cancel invalid Level: 9.85 Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level NEO/ U.S. dollar(NEOUSD)Trading Strategy: The second wave corrects before rising again in the third wave. In a Double Corrective pattern, the current state is a decline in Wave Y, so wait for the correction to complete to re-enter the uptrend. NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum. Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here! -
The currency’s weakness has indicated to many investors that Japanese policymakers could step in to strengthen the besieged currency. Japan’s finance minister Shunichi Suzuki has indicated that measures to “respond to disorderly FX moves” were not off the table. Following a meeting of the Bank of Japan with the finance ministry and the Financial Services Agency, Masato Kanda , the vice finance minister for international affairs, on Wednesday said that the yen’s moves were being watched closely and urgently, Reuters reported. Recent fluctuations, which have been as large as 4% within two weeks, were not considered to be mild changes, he added. BOJ officials have said that, if foreign exchange market developments were to affect Japan’s economy, the central bank would respond through monetary policy measures, Kanda noted. Suzuki’s comments and the yen’s movements indicate that a higher likelihood of intervention, which could be set off by further changes, analysts suggested. “There is now a higher chance of Japanese FX intervention. Another sharp lift in USD/JPY in the near term can be the catalyst,” analysts from the Commonwealth Bank of Australia said in a note on Wednesday. A Bank of America Global Research report said that intervention was a “realistic option” for the Japanese government, but that this may not address long-term concerns. “As the yen’s decline is a result of a mixture of structural capital outflows and elevated USD/JPY carry, and not only speculation, FX intervention would not be a fundamental fix,” the report said. Japan’s economy unexpectedly fell into a technical recession at the end of 2023, after contracting for two consecutive quarters. The data was later revised to show an expansion, averting a downturn. The country now faces a new struggle of combating inflation, after decades of addressing deflation. In a historic decision, the Bank of Japan earlier this month ended its policy course of negative interest rates and abolished its yield curve control policy, which sparked a sell-off of the yen. Kanda has previously said that there are pros and cons to a feebler yen. The currency’s weakness has, for example boosted tourism, and led to stronger stock market performance.
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