Technical Analysis with Candlestick Charts – 08 November 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 08 November 2021

Asia Pacific stocks were mostly down on Monday morning. The Shanghai Composite is up 0.23% at 3,499.34. Overall, the Singapore MSCI up 0.72% at 375.35. Over in Hong Kong, the Hang Seng Index down 0.52% at 24,740.00. In Japan, the Nikkei 225 is down 0.34% at 29,520.00, while the Topix index is down 0.02% at 2035.0. South Korea’s Kospi down 0.24% to 2962.01. Australia S&P/ASX 200 down 0.06% at 7452.2.

European equities Friday closing. The DAX futures contract in Germany traded up 0.15% at 16054.36, CAC 40 futures up 0.76% at 7040.80 and the UK 100 futures contract in the U.K. down 0.03% at 7,306.00.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.56% at 36327.96. The S&P 500 up 0.37% at 4697.54 and the Nasdaq 100 down 0.22% at 16319.9, NYSE closes up 0.43% at 17242.35.

In the Forex market, GBPUSD down 0.04% at 1.34888. The USDJPY up 0.18% at 113.595. The USDCHF up 0.10% at 0.91298. EURUSD down 0.02% at 1.15659, EUR/GBP up 0.14% at 0.85739. The USD/CNY down 0.02% at 6.3970 at the time of writing.

In the commodity market U.S. Gold futures up 0.16% at $1,819.63. Elsewhere, Silver futures up 0.51% to $24.277 per ounce, Platinum up 0.87% at $1043.57 per ounce, and Palladium up 0.81% at $2052.00.

Crude Oil up on Monday; Brent crude oil up 1.60% at $83.64 per barrel while U.S. West Texas Intermediate (CLc1) is up 1.94% at $81.79.

In the Cryptocurrency Markets, BTCUSD at 65946.35 down 4.16%, Ethereum up 3.04% at 4757.83, Litecoin at 207.91 up 2.87%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Expedia Group Inc. up 15.627% at $182.17, Pfizer Inc. up 10.855% at $48.61,

Carnival Corp. up 8.348% to $24.79, Moderna Inc. down 16.559% to $236.99, ETSY Inc. down 4.11% to $260.12, Netflix Inc. down 3.393% at $645.72.

Economic news:

US: A giddy President Joe Biden on Saturday hailed the congressional passage of a long-delayed $1 trillion infrastructure bill as a “once in a generation” investment and predicted a broader social safety net plan will be approved despite tense negotiations.

Biden and Vice President Kamala Harris appeared in the White House State Dining Room about 12 hours after moderate and progressive Democrats in the House of Representatives overcame internal bickering and delivered the president his biggest legislative win thus far.

“Finally, infrastructure week,” Biden said with a chuckle. “I’m so happy to say that – infrastructure week!”

The president’s comment referred to a running joke in recent years after Biden’s Republican predecessor Donald Trump declared “Infrastructure week” in 2018 but was unable to pass a bill after multiple tries during his presidency.

Eurozone: British Foreign Secretary Liz Truss will travel to Malaysia on Sunday as part of a week-long visit to southeast Asia aimed at deepening economic and security ties in the region, her office said.

Truss will also visit Thailand and Indonesia, chosen to reflect their “growing economic and diplomatic heft”, as post-Brexit Britain looks to strengthen relations with nations and regions beyond Europe.

“I want to position Britain where the future growth is and to think about who our major partners will be in 2050 and beyond,” Truss said in a statement.

“Southeast Asia will be the engine of the global economy and I want Britain to be part of that, upgrading our economic and security relations with the region to reflect its growing importance.”

The Foreign Office said Truss would look to build closer ties on infrastructure investment into the region.

Important Data: JAPAN Current Account n.s.a. (Sep) today at 18:50 this time estimated 1.060T, previously which was 1.666T. AUSTRALIA HIA New Home Sales (MoM)  at 19:00 previously which was 2.3%. UK BRC Retail Sales Monitor (YoY) (Oct) today at 19:01 previously which was -0.6%. JAPAN Adjusted Current Account today at 18:50 previously which was 1.04T.

TECHNICAL SUMMARY

GBPUSD Technical Analysis

Techncial Analysis
Techncial Analysis

TRADE SUGGESTION- SELL AT 1.34830, TAKE PROFIT AT 1.34672 AND STOP LOSS AT 1.35043

EURUSD Technical Analysis

Techncial Analysis
Techncial Analysis

TRADE SUGGESTION- SELL AT 1.15619, TAKE PROFIT AT 1.15428 AND STOP LOSS AT 1.15788

GBPJPY Technical Analysis

Techncial Analysis
Techncial Analysis

TRADE SUGGESTION- SELL AT 153.167, TAKE PROFIT AT 152.768 AND STOP LOSS AT 153.663

CHFJPY Technical Analysis

Techncial Analysis
Techncial Analysis

TRADE SUGGESTION- BUY AT 124.340, TAKE PROFIT AT 124.701 AND STOP LOSS AT 124.092.

NASDAQ 100 Technical Analysis

Techncial Analysis
Techncial Analysis

TRADE SUGGESTION- BUY AT 16302.24 TAKE PROFIT AT 16314.42 AND STOP LOSS AT 16282.81

WTI CRUDE OIL Technical Analysis

Techncial Analysis
Techncial Analysis

TRADE SUGGESTION- BUY AT 82.06 TAKE PROFIT AT 82.95 AND STOP LOSS AT 81.60

GOLD Technical Analysis

Techncial Analysis
Techncial Analysis

TRADE SUGGESTION- BUY AT 1815.92, TAKE PROFIT AT 1824.48 AND STOP AT 1810.03

BTC USD Technical Analysis

Techncial Analysis
Techncial Analysis

TRADE SUGGESTION- BUY AT 65729.91 TAKE PROFIT AT 66086.95 AND STOP AT 65588.98

About Author