Technical Analysis with Candlestick Charts – 02 November 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 02 November 2021

Asia Pacific stocks were mostly up on Tuesday morning. The Shanghai composite is down 1.18% at 3,502.54. Overall, the Singapore MSCI up 0.27% at 370.80. Over in Hong Kong, the Hang Seng Index down 0.06% at 25,089.00. In Japan, the Nikkei 225 down 0.17% at 29,500.00, while the Topix index is down 0.64% at 2026.0. South Korea’s Kospi up 1.16% to 3013.49. Australia S&P/ASX 200 down 0.63% at 7324.3.

European equities Monday closing. The DAX futures contract in Germany traded up 0.75% at 15806.29, CAC 40 futures up 0.92% at 6893.30 and the UK 100 futures contract in the U.K. down 0.25% at 7,284.80.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.26% at 35913.85. The S&P 500 up 0.18% at 4613.68 and the Nasdaq 100 flat at 15903.0, NYSE closes at 17131.08 up 0.67%.

In the Forex market, GBPUSD down 0.02% at 1.36513. The USDJPY down 0.28% at 113.677. The USDCHF up 0.06% at 0.90957. EURUSD down 0.02% at 1.16039, EUR/GBP up 0.13% at 0.84999. The USD/CNY up 0.02% at 6.3987 at the time of writing.

In the commodity market U.S. Gold futures up 0.04% at $1,794.15. Elsewhere, Silver futures down 0.28% to $23.96 per ounce, Platinum down 0.50% at $1057.69 per ounce, and Palladium down 0.29% at $2050.00.

Crude Oil up on Tuesday; Brent crude oil up 0.73% at $85.13 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.40% at $83.82.

In the Cryptocurrency Markets, BTCUSD at 61664.05 up 1.23%, Ethereum up 1.08% at 4370.77, Litecoin at 196.72 down 0.48%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Tesla Inc. up 8.491% at $1208.59, Ford Motor Co. up 5.094% at $17.95, Devon Energy Corp. up 4.766% to $41.99, Fortinet Inc. down 3.636% to $324.11, ETSY Inc. down 2.82% to $243.62, IHS Markit Ltd. down 2.808% at $127.05.

Economic news:

US: The U.S. Treasury said on Monday it plans to borrow $1.015 trillion in the fourth quarter, more than the August estimate of $703 billion, due to having a lower balance at the beginning of the quarter.

This is somewhat offset by a lower end-of-quarter balance and higher receipts, the Treasury said in a statement. The fourth-quarter estimate assumes an end-Dec. cash balance of $650 billion.

The Treasury has been cutting issuance since February, when it slashed its borrowing projections for the first and second quarters as part of a plan to reduce its cash balance. It had ramped up debt issuance in 2020 to pay for COVID-19 related spending.

The Treasury said it issued $103 billion in net debt in the third quarter, ending the three-month period with a cash balance of $215 billion.

Eurozone: Britain announced on Monday it will fund green investments of more than 3 billion pounds ($4.11 billion) over five years and new guarantees to support clean infrastructure projects in developing economies.

The UK government made the pledge as the United Nations COP26 summit opened in Glasgow, Scotland. The UK also confirmed it will separately provide additional guarantees to the World Bank to fund $1 billion worth of green projects across India, as reported by Reuters earlier.

“The climate has often been a silent victim of economic growth and progress – but the opposite should now be true,” UK Prime Minister Boris Johnson said in the government’s statement.

Johnson also addressed the opening ceremony of the COP26 summit, an event that has been billed as a make-or-break chance to save the planet from the most calamitous effects of climate change.

Important Data: GERMANY Manufacturing PMI (Oct) today at 4:55 this time estimated 58.2, previously which was 58.20. CANADA Building Permits (MoM) (Sep) at 8:30 this time estimated 3.1%, previously which was -2.1%. EURO ZONE Manufacturing PMI (Oct) today at 5:00 this time estimated 58.5, previously which was 58.5. NEW ZEALAND Employment Change (QoQ) (Q3) today at 17:45 this time estimated 0.4%, previously which was 1.0%.

TECHNICAL SUMMARY

GBPUSD Technical Analysis

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 1.36478, TAKE PROFIT AT 1.36339 AND STOP LOSS AT 1.36761

EURUSD Technical Analysis

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 1.16026, TAKE PROFIT AT 1.15819 AND STOP LOSS AT 1.16227

USDJPY Technical Analysis

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 113.654, TAKE PROFIT AT 113.487 AND STOP LOSS AT 113.852

USDCHF Technical Analysis

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 0.90927, TAKE PROFIT AT 0.90675 AND STOP LOSS AT 0.91141.

HANG SENG Technical Analysis

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 25012.00 TAKE PROFIT AT 24821.00 AND STOP LOSS AT 25287.00

WTI CRUDE OIL Technical Analysis

Technical analysis
Technical analysis

TRADE SUGGESTION- BUY AT 84.11 TAKE PROFIT AT 84.81 AND STOP LOSS AT 83.36

GOLD Technical Analysis

Technical analysis
Technical analysis

TRADE SUGGESTION- BUY AT 1794.88, TAKE PROFIT AT 1802.67 AND STOP AT 1789.41

ETHEREUM Technical Analysis

Technical analysis
Technical analysis

TRADE SUGGESTION- BUY AT 4357.20 TAKE PROFIT AT 4388.11 AND STOP AT 4314.15

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