Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We see that VAS may have finished wave 2-grey, and wave 3-grey is unfolding to push higher.
ASX: V300AEQ ETF Units – One-day chart analysis
Function: Major trend (Minor degree, grey).
Mode: Motive.
Structure: Impulse.
Position: Wave ((iii))-navy of Wave 3-grey.
Details: Wave 2-grey just ended at the 94.13 low as an Expanded Flat. Wave 3-grey is unfolding to push much higher, it is subdividing and has just completed wave ((i)),((ii))-navy, now wave ((iii))-navy is probably unfolding to push much higher. The push below 98.39 suggests that the entire wave ((ii))-navy is extending longer than expected, but the end result is still wave ((iii))-navy will continue to push higher afterwards.
Invalidation point: 98.39.
ASX: V300AEQ ETF Units – Four-hour chart analysis
Function: Major trend (Minute degree, navy).
Mode: Motive.
Structure: Impulse.
Position: Wave ((iii))-navy.
Details: Wave ((i))-navy just completed as Five-waves, wave ((ii))-navy also seems to have completed as Zigzag at the 98.39 low. Wave ((iii))-navy seems to be unfolding to push much higher. Pushing lower than that low, suggests wave ((ii))-navy is extending longer than expected. I am looking for trading setups around the Major 100.00 level.
Invalidation point: 98.39.
Conclusion
Our analysis, forecast of contextual trends, and short-term outlook for ASX: V300AEQ ETF UNITS – VAS 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.
V300AEQ ETF Units Elliott Wave technical forecast [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
![EUR/USD trades with moderate gains near 1.1050, US CPI awaited](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/money-euro-and-dollar-banknotes-17371247_XtraSmall.jpg)
EUR/USD trades with moderate gains near 1.1050, US CPI awaited
EUR/USD is holding the bounce near 1.1050 in Wednesday's early European session. The pair draws support from the USD/JPY slump-driven US Dollar weakness. The further upside may be limited due to dovish ECB expectations. All eyes now turn to US CPI data.
![GBP/USD reverses below 1.3100 after dismal UK data, US CPI eyed](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/GBPUSD/iStock-689067954_XtraSmall.jpg)
GBP/USD reverses below 1.3100 after dismal UK data, US CPI eyed
GBP/USD is easing below 1.3100 in European trading, unable to defend gains after the dismal UK data. The UK economy stagnated in July again while Industrial Production unexpectedly declined, weighing on the Pound Sterling. US CPI report is next in focus.
![Gold cycles up towards all-time-highs](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/safe-investment-gm147322399-17568598_XtraSmall.jpg)
Gold cycles up towards all-time-highs
Gold cycles back up towards the top of its three-week range, trading just shy of $2,530 on Wednesday. The precious metal keeps oscillating as investors debate the size of the cut the Federal Reserve (Fed) will make to interest rates at its September 17-18 meeting.
![US CPI inflation could help tilt balance between 25 and 50 basis points Fed rate cut](https://editorial.fxstreet.com/images/Macroeconomics/EconomicIndicator/Prices/CPI/tablet-with-consumer-price-index-cpi-business-concept-gm499730392-80399281_XtraSmall.jpg)
US CPI inflation could help tilt balance between 25 and 50 basis points Fed rate cut
The Bureau of Labor Statistics (BLS) will publish the highly anticipated CPI inflation data from the US for August on Wednesday at 12:30 GMT. The USD braces for intense volatility, as any surprises from the US inflation report could significantly impact the market’s pricing of the Federal Reserve (Fed) interest rate cut expectations in September.
![Five Fundamentals for the week: Jittery markets fear the ECB, US inflation and more](https://editorial.fxstreet.com/images/Macroeconomics/EconomicIndicator/Prices/CPI/consumer-price-index-gm500080630-80587217_XtraSmall.jpg)
Five Fundamentals for the week: Jittery markets fear the ECB, US inflation and more Premium
Is there still a chance? Investors hope for a 50-bps rate cut from the Fed but also fear a global recession is underway. The world's three largest economies, the US, China, and the eurozone, are set to rock global markets.
![Moneta Markets review 2024: All you need to know](https://editorial.fxstreet.com/images/IT/Testing/Review/FXSBadgeCertifiedBackg_XtraSmall.png)
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.