Technical Analysis with Candlestick Charts – 05 November 2021

Technical Analysis with Candlestick Charts – 05 November 2021

Asia Pacific stocks were mostly down on Friday morning. The Shanghai composite is down 0.63% at 3,504.68. Overall, the Singapore MSCI up 0.04% at 373.45. Over in Hong Kong, the Hang Seng Index down 1.05% at 24,930.00. In Japan, the Nikkei 225 down 0.74% at 29,600.00, while the Topix index is down 0.85% at 2040.0. South Korea’s Kospi down 0.56% to 2967.47. Australia S&P/ASX 200 up 0.39% at 7456.9.

European equities Thursday closing. The DAX futures contract in Germany traded up 0.44% at 16029.65, CAC 40 futures up 0.53% at 6987.80 and the UK 100 futures contract in the U.K. up 0.01% at 7,280.9.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.09% at 36124.24. The S&P 500 up 0.42% at 4680.07 and the Nasdaq 100 up 0.02% at 16354.6, NYSE closes down 0.24% at 17168.86.

In the Forex market, GBPUSD down 0.04% at 1.34918. The USDJPY down 0.07% at 113.666. The USDCHF up 0.02% at 0.91259. EURUSD down 0.02% at 1.15519, EUR/GBP up 0.07% at 0.85629. The USD/CNY up 0.08% at 6.4019 at the time of writing.

In the commodity market U.S. Gold futures up 0.25% at $1,795.20. Elsewhere, Silver futures up 0.28% to $23.83 per ounce, Platinum up 0.70% at $1033.17 per ounce, and Palladium up 1.17% at $2028.50.

Crude Oil down on Friday; Brent crude oil down 0.52% at $80.51 per barrel while U.S. West Texas Intermediate (CLc1) is down 1.67% at $80.23.

In the Cryptocurrency Markets, BTCUSD at 62511.57 up 1.72%, Ethereum up 0.72% at 4570.66, Litecoin at 202.12 down 0.39%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

ETSY Inc. up 13.208% at $271.27, NVIDIA Corp. up 12.042% at $298.01, APA Corp. up 5.248% to $29.08, Moderna Inc. down 17.894% to $284.02, Netflix Inc. down 2.89% to $668.40, Baidu Inc. down 1.687% at $162.58.

Economic news:

US: The number of Americans filing new claims for unemployment benefits fell to the lowest level in nearly 20 months last week, suggesting the economy was regaining momentum amid a significant improvement in public health, though supply constraints remain.

The tightening labour market is driving up wages as companies scramble for workers, contributing to keeping inflation high. Labour costs surged in the third quarter, other data showed on Thursday, with productivity sinking at its steepest pace in 40 years. The Federal Reserve announced on Wednesday that it would this month start scaling back the amount of money it is pumping into the economy through monthly bond purchases.

“Firms are reluctant to lay off workers with strong demand and labour in short supply,” said Gus Faucher, chief economist at PNC Financial (NYSE:PNC) in Pittsburgh, Pennsylvania. “The big open question is what is happening to the millions of people who lost their benefits in September, or saw their benefits drop.”

Eurozone: Euro zone business growth slipped to a six-month low in October as supply chain bottlenecks and logistical issues related to the COVID-19 pandemic pushed input prices to rise at the fastest rate in over two decades, a survey showed.

Government restrictions are being lifted in the currency bloc but shortages of raw materials in the manufacturing sector are impacting growth and the pent-up demand unleashed across the services industry is waning.

IHS Markit’s Flash Composite Purchasing Managers’ Index (PMI), a good gauge of overall economic health, fell to a six-month low of 54.2 in October from 56.2 in September, just below an earlier 54.3 “flash” estimate.

“The PMIs suggest the euro zone’s economic recovery will slow markedly in Q4 as supply shortages intensified throughout the region, especially for manufacturers,” said Jessica Hinds at Capital Economics.

Important Data: US Unemployment Rate (Oct) today at 8:30 this time estimated 4.7%, previously which was 4.8%. CANADA     Employment Change (Oct) at 8:30 this time estimated 50.0K, previously which was 157.1K. EURO ZONE Retail Sales (MoM) (Sep) today at 6:00 this time estimated 0.3%, previously which was 0.3%. US Nonfarm Payrolls (Oct) today at 8:30 this time estimated 450K, previously which was 194K.      

TECHNICAL SUMMARY

GBPUSD Technical Analysis

TRADE SUGGESTION- SELL AT 1.34890, TAKE PROFIT AT 1.34810 AND STOP LOSS AT 1.34987

EURUSD Technical Analysis

TRADE SUGGESTION- SELL AT 1.15496, TAKE PROFIT AT 1.15312 AND STOP LOSS AT 1.15675

usdjpy Technical Analysis

TRADE SUGGESTION- SELL AT 113.581, TAKE PROFIT AT 113.428 AND STOP LOSS AT 113.765

usdchf Technical Analysis

TRADE SUGGESTION- SELL AT 0.91256, TAKE PROFIT AT 0.91145 AND STOP LOSS AT 0.91444.

Euro Stoxx 50 Technical Analysis

TRADE SUGGESTION- BUY AT 4322.00 TAKE PROFIT AT 4330.00 AND STOP LOSS AT 4320.00

WTI CRUDE OIL Technical Analysis

TRADE SUGGESTION- SELL AT 79.36 TAKE PROFIT AT 78.26 AND STOP LOSS AT 80.68

GOLD Technical Analysis

TRADE SUGGESTION- BUY AT 1796.74, TAKE PROFIT AT 1803.30 AND STOP AT 1791.27

Ethereum Technical Analysis

TRADE SUGGESTION- BUY AT 4530.73 TAKE PROFIT AT 4580.25 AND STOP AT 4516.57

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