Author: FX
JSW STEEL Elliott Wave technical analysis Function: Counter Trend. Mode: Corrective. Structure: Orange Wave 2. Position: Navy Blue Wave 1. Directions next higher degrees: Orange Wave 3. Details: Orange wave 1 appears complete; orange wave 2 is currently forming. Wave cancel/invalid level: 906. The daily chart for JSW STEEL indicates a counter-trend correction forming inside a broader bullish setup. Orange wave 1 appears finished, with the stock now entering orange wave 2, which is part of the larger navy blue wave 1 uptrend. This suggests a short-term pullback before the potential continuation of the dominant upward move. Wave 2 usually retraces 38% to 61% of wave 1, often manifesting as…
The All-In-One Mirror MT4 Indicator provides a streamlined solution that consolidates all the essential data into one clear and easy-to-understand display. This innovative tool is designed to simplify the trading process, saving time and enhancing trading accuracy. Let’s explore why the All-In-One Mirror MT4 Indicator is a must-have tool for traders. Simplifying Complex Data with the All-In-One Mirror MT4 Indicator The All-In-One Mirror MT4 Indicator transforms the way traders interact with the MetaTrader 4 (MT4) platform. Instead of flipping between different charts or trying to analyze multiple indicators at once, this tool consolidates everything into one display. Traders can view…
Australian inflation remained unchanged annually but came in stronger than expected on a quarterly basis, reinforcing market expectations for a second rate cut by the Reserve Bank of Australia (RBA) at its May meeting but a more measured approach afterwards. While annual inflation remained anchored within the 2-3% target range and core measures showed signs of easing, the quarterly reading suggested some lingering price pressures in the economy. Key Takeaways: Headline CPI held steady at 2.4% year-on-year in March quarter, matching the December quarter reading but above the 2.2% forecast Quarterly inflation jumped to 0.9%, significantly higher than the 0.2%…
Even though the BOJ is widely expected to sit on their hands for now, hints about future tightening or upgrades in their inflation forecasts could still spur declines for CHF/JPY or NZD/JPY. Our Event Guide for the BOJ Decision points out that stronger than expected price pressures could be enough for policymakers to retain their rate hike guidance for the next few months. Here’s what I’m looking at in this scenario. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event…
The Bar Time Count Down MT4 Indicator shows a live countdown of the time remaining before the current candlestick closes. It’s a simple tool, but one that makes a huge impact. This countdown is displayed directly on your MT4 chart, updating in real time. Traders no longer need to keep checking the clock or switching timeframes. The visual timer keeps them focused and in control of their trades. Why It Matters to Traders Timing is everything in trading. If a trader enters too early, the setup might not be complete. If they wait too long, the move might be over.…
Traders widely expect the Bank of Japan (BOJ) to keep its policies steady for another month in May. Based on our Event Guide for the May BOJ Monetary Policy Statement, the central bank could also downgrade its economic projections and possibly sound less hawkish than some yen buyers are expecting. If Gov. Ueda and his team tone down their interest rate hike hints, we think GBP/JPY and NZD/JPY may present good trend opportunities for yen traders: This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term…
Market correlations were out of sync on Tuesday, as crude oil carried on with its steady decline while U.S. stock markets closed in the green. Meanwhile, USD pairs appeared to move in tandem while traders adjusted their GDP expectations after the U.S. trade balance was released. Which headlines drove price action in the latest trading sessions? Headlines: Canadian PM Carney and Liberal Party won narrow victory in parliamentary elections, willing to sit with Trump to discuss trade ties Indian government reported progress in U.S. trade talks, prepared to offer U.S. “the most favored nation” clause Chinese Ministry of Commerce spokesperson reiterated…
China will be on holidays from May 1 to May 5 (five days in total).This is to celebrate Labour Day. Markets will be closed tomorrow, Thursday, May 1, 2025, and reopen on Tuesday next week. Later this year, ForexLive.com is evolving into investingLive.com, a new destination for intelligent market updates and smarter decision-making for investors and traders alike. Source link
Are BOJ policymakers shifting to a less hawkish stance given global trade uncertainties? Or will they stay relatively optimistic since the Japanese economy has been printing upbeat data recently? Here are the key points to know when trading their May policy statement. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Unlimited Access access to MarketMilk™ Plus More! Source link
The Australian Dollar is regaining ground after the release of key economic data from both Australia and China.Australia’s Consumer Price Index rose 0.9% QoQ in Q1, up from a 0.2% previous increase and a 0.8% expected rise.China’s NBS Manufacturing PMI dropped to 49.0 in April from 50.5 in March, returning to contraction in the sector.The Australian Dollar (AUD) is gaining ground on Wednesday following a more than 0.50% decline against the US Dollar (USD) in the previous session. The AUD/USD pair appreciates following the release of key economic data from Australia and China.The Australian Bureau of Statistics (ABS) reported that…