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ASX200, CBA, Iron Ore, BHP, FMG, RIO, GDX, GOLD, NCM, Natural Gas, WDS, STO, AUDUSD Elliott Wave


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Australian Stock Market Elliott Wave Analysis Trading Levels  ASX 200 Index (XJO), Forex AUDUSD,  Commonwealth Bank CBA, BHP Group (BHP), Rio Tinto (RIO), Fortescue Metals Group (FMG),Woodside (WDS) Stantos (STO), Newcrest Mining NCM, VanEck Gold Miners ETF GDX, Technical Analysis Trading Strategies
ASX200 Market Summary Elliott Wave ASX200:Public holiday yesterday, so expect stocks to gap down in line with the global bear market
ASX200 Trading Strategy: Waiting for the current move down as Elliott Wave 1 to complete and then the focus is on the next Elliott Wave corrective bear market rally a) b) c) as Wave 2 for the short trade setup.

Video Chapters
00:00 ASX200
04:28 Commonwealth Bank CBA
05:06 Iron Ore BHP RIO FMG
09:38 Natural Gas WDS STO
14:03 Forex AUDUSD
22:08 Thanks for watching!


Peter Mathers - TradingLounge
 

 

 

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11 hours ago, tradinglounge said:

Forex AUDUSD

Australian Dollar Dive as Chance for 75-BPS Fed Hike Spooks Market

 

AUD/USD: Australian Dollar boosted by anticipated rate rises | IG South  Africa

 

Australian stock markets are set to start trading after an extended holiday weekend, and a move lower is likely, given the broader market sentiment.

This morning, food inflation in New Zealand rose 6.8% on a year-over-year basis in May. That was up from April’s +6.4% y/y increase. Australia is set to report its first-quarter house price index at 01:30 GMT. Analysts expect to see that figure cross the wires at +1.4% on a quarter-over-quarter basis, down from 4.7% q/q. Australia’s May business confidence survey from National Australia Bank (NAB) is also due out. Japan’s industrial production for April will see a final update, and China’s foreign direct investment (FDI) data for May is expected to wrap the economic docket for the day.

Jun 14, 2022 | DailyFX
Thomas Westwater, Analyst

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14 hours ago, tradinglounge said:

ASX 200 Index

ASX

The top 200 companies on the Australian stock exchange plunged by just over 5% when the market returned from the Queen’s birthday long weekend, the biggest fall since March 2020.

The ASX 200 has now plunged over 11% from the early days of the year, erasing all the gains during the calendar year of 2021. All 11 sectors suffered heavy losses, including a 7% drop in the tech sector, 6% in mining, and more than 4% in the banking sector.

The panic sell-off reflects the heightened concern in the market that induced the traders to reprice the risk of a US recession and its catastrophic consequence to the global economy.

The daily chart shows that the ASX is now seeking support from the level in Feb 2021 at 6550. The next key level to keep a close eye on will be around 6312, a level that will bring the Australian stock market back to where it was two years ago, before the market crashed due to the pandemic.

1655206297533.JPGSource: IG
 
 
Hebe Chen | Market Analyst, Melbourne | Publication date: Tuesday 14 June 2022
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