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    • AUDJPY Elliott Wave Analysis - Daily Chart AUDJPY Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Navy Blue Wave 1 POSITION: Gray Wave 1 DIRECTION NEXT HIGHER DEGREES: Navy Blue Wave 2 Details: Current Status: Orange wave Y looks completed. Now, Navy blue wave 1 of 1 as a new trend is in play. Wave Cancel Invalid Level: 109.360 The AUDJPY Elliott Wave Analysis on the daily chart provides a comprehensive technical outlook on the Australian Dollar versus the Japanese Yen using Elliott Wave Theory. Function: The current market movement is identified as a trend, indicating a directional move in the market. Mode: This trend is classified as impulsive, signifying strong directional waves characteristic of Elliott Wave impulsive sequences. Structure: The specific structure identified is navy blue wave 1, indicating the market is in the first wave of a larger impulsive movement. This wave is crucial as it sets the foundation for the subsequent waves in the impulsive sequence. Position: The current position is gray wave 1, suggesting the market is at the beginning of the initial wave of a smaller degree (gray wave) within the larger navy blue wave 1. This wave marks the start of a new trend and is an essential phase in the overall wave progression. Next Higher Degrees Direction: The analysis points to the development of navy blue wave 2 as the direction for the next higher degrees. Navy blue wave 2 represents a corrective phase typically following the initial impulsive wave, indicating a temporary retracement against the primary trend before resuming the larger impulsive movement. According to the analysis, orange wave Y appears to have been completed, meaning the preceding corrective phase has ended. Now, navy blue wave 1 of 1 is in play, indicating that the market has entered a new impulsive trend. This wave marks the beginning of a significant directional move in the market. The wave cancel invalid level is set at 109.360. If the market reaches this level, the current wave count and analysis would be invalidated. This level serves as a critical point for reevaluating the wave structure. Summary: The AUDJPY daily chart analysis shows the market is in an impulsive trend, currently in navy blue wave 1, with the position at gray wave 1. The next expected phase is navy blue wave 2, following the completion of the current impulsive wave. The analysis suggests the market has completed orange wave Y and is now progressing through navy blue wave 1 of 1 as a new trend. The wave cancel invalid level is set at 109.360, providing a crucial point for reassessment if reached.   AUDJPY Elliott Wave Analysis - 4 Hour Chart AUDJPY Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Orange Wave 3 POSITION: Navy Blue Wave 1 DIRECTION NEXT HIGHER DEGREES: Orange Wave 4 Details: Current Status: Orange wave 2 appears completed. Now, orange wave 3 is in play. Wave Cancel Invalid Level: 109.360 The AUDJPY Elliott Wave Analysis on the 4-hour chart offers an in-depth technical perspective on the Australian Dollar versus the Japanese Yen using Elliott Wave Theory. Function: The current market movement is identified as a trend, indicating a consistent directional move. Mode: This trend is classified as impulsive, meaning the market is experiencing strong, directional waves typical of an Elliott Wave impulse sequence, which generally consists of five waves. Structure: The specific structure identified is orange wave 3. This suggests that the market is in the third wave of an impulsive phase, often the strongest and most significant wave in the Elliott Wave sequence. Position: The position within this structure is at navy blue wave 1, indicating that the market has just started the first wave of a larger degree (navy blue wave) within the orange wave 3. This initial wave sets the stage for subsequent waves within the larger impulsive movement. Next Higher Degrees Direction: The analysis points to the development of orange wave 4 after the completion of orange wave 3. Orange wave 4 represents a corrective phase, typically a temporary retracement against the primary trend before resuming the larger impulsive movement. According to the analysis, orange wave 2 appears to have been completed, meaning the corrective phase that preceded the current impulsive move has ended. Now, orange wave 3 is in play, indicating that the market is currently in the middle of this strong, directional wave. The wave cancel invalid level is set at 109.360. If the market reaches this level, the current wave count and analysis would be invalidated. This level serves as a critical point for reevaluating the wave structure. Summary: The AUDJPY 4-hour chart analysis shows that the market is in an impulsive trend, currently in orange wave 3, with the position at navy blue wave 1. The next expected phase is orange wave 4, following the completion of orange wave 3. The analysis suggests the market has completed orange wave 2 and is now progressing through the significant orange wave 3. The wave cancel invalid level is set at 109.360, providing a critical point for reassessment if reached.   Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!  
    • Asian stock markets declined despite China's surprise rate cut, with investors viewing it as a sign of economic weakness. President Biden has reportedly decided to drop out of the election race and endorse Vice President Kamala Harris for the Democratic ticket, potentially upending the presidential race. US stock futures showed slight gains following the Biden news, while European futures also edged up, after a week of heavy losses for tech stocks. A busy week of corporate earnings is ahead, with major tech companies like Tesla and Alphabet reporting. Key economic data coming this week includes the Fed's preferred inflation measure and Q2 GDP figures, and markets are anticipating a benign inflation outcome, which could strengthen the case for a September rate cut.
    • ASX: TRANSURBAN GROUP – TCL Elliott Wave Technical Analysis 1D Chart Analysis Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with TRANSURBAN GROUP (TCL). We observe TCL potentially bullish within the third wave of the third wave. ASX: TRANSURBAN GROUP - TCL Elliott Wave Technical Analysis 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, grey) Mode: Motive Structure: Impulse Position: Wave 3 - grey Details: TCL has performed well since the last forecast. Since the low of 11.92, wave 3 - grey is unfolding to push higher. I will look for a Setup Long Trade after an ABC Correction is completed. Invalidation point: 11.92   ASX: TRANSURBAN GROUP – TCL Elliott Wave Technical Analysis 4-Hour Chart Analysis ASX: TRANSURBAN GROUP - TCL Elliott Wave Technical Analysis 4-Hour Chart Analysis Function: Major trend (Minuette degree, orange) Mode: Motive Structure: Zigzag Position: Wave (ii) - orange Details: Since the 11.92 low, the (i) - orange wave opened and may have ended. Now, the (ii) - orange wave is unfolding to push lower, aiming for a target around 12.49 - 12.35. Wave (iii) - orange can then return to push higher. I will look for a Setup Long Trade after an ABC Correction is completed. Invalidation point: 11.92   Conclusion Our analysis and forecast of contextual trends and short-term outlook for ASX: TRANSURBAN GROUP - TCL aim to provide readers with insights into 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.com get trial here!  
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