Technical Analysis with Candlestick Charts – 17 November 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 17 November 2021

Asia Pacific stocks were mostly down on Wednesday morning. The Shanghai Composite is up 0.38% at 3,535.80. Overall, the Singapore MSCI is down 1.20% at 367.90. Over in Hong Kong, the Hang Seng Index down 0.39% at 25,534.00. In Japan, the Nikkei 225 is down 0.27% at 29,690.00, while the Topix index is down 0.56% at 2067.0. South Korea’s Kospi down 1.08% to 2964.75. Australia S&P/ASX 200 down 0.68% at 7369.9.

European equities Tuesday closing. The DAX futures contract in Germany traded up 0.61% at 16247.86, CAC 40 futures up 0.34% at 7152.61 and the UK 100 futures contract in the U.K. down 0.34% at 7,326.98.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.15% at 36142.23. The S&P 500 up 0.39% at 4700.91 and the Nasdaq 100 up 0.03% at 16307.0, NYSE closes up 0.10% at 17302.78.

In the Forex market, GBPUSD up 0.04% at 1.34312. The USDJPY up 0.05% at 114.870. The USDCHF up 0.23% at 0.93170. EURUSD down 0.16% at 1.13012, EUR/GBP down 0.15% at 0.84138. The USD/CNY down 0.09% at 6.3863 at the time of writing.

In the commodity market U.S. Gold futures up 0.27% at $1,854.40. Elsewhere, Silver futures up 0.59% to $24.955 per ounce, Platinum up 0.49% at $1067.66 per ounce, and Palladium up 0.02% at $2162.00.

Crude Oil down on Wednesday; Brent crude oil down 0.83% at $81.66 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.02% at $81.89.

In the Cryptocurrency Markets, Bitcoin at 59699.13 down 0.74%, Ethereum down 0.72% at 4180.27, Litecoin at 225.54 down 2.12%, at the time of writing.

TOP STOCKS TO WATCH OUT FOR TODAY:

Qualcomm Inc. up 7.893% at $181.81, ETSY Inc. up 5.14% at $286.75, Home Depot Inc. up 5.727% to $392.33, Tesla Inc. up 4.079% to $1,054.73, Biogen Inc. down 3.778% to $261.55, Carnival Corp. down 3.184% at $21.59.

Economic news:

US: U.S. Commerce Secretary Gina Raimondo said on Wednesday that an Indo-Pacific economic framework could be launched at the start of next year, and her Asia visit was to lay the groundwork for potential partnerships.

“We are likely to launch a more formal process at the beginning of next year, which will culminate in a proper economic framework in the region,” Raimondo said at the Bloomberg New Economy Forum in Singapore.

When asked whether that would mean an actual agreement, she said: “Yeah, exactly.”

President Joe Biden said last month that Washington would start talks with partners in the Indo-Pacific about developing a regional economic framework.

Raimondo said she was in Tokyo before her trip to Singapore and would be visiting Malaysia next.

Critics of U.S. strategy for the region point to its lack of an economic component after former President Donald Trump withdrew in 2017 from a U.S.-inspired trade deal, now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

Eurozone: The main political groups in the European Parliament have written jointly to the European Commission, demanding it freezes billions of euros in recovery money for Poland until Warsaw respects the rule of law and the primacy of EU law.

In a letter, the center-right People’s Party, center-left Socialists, liberal Renew Europe, the Greens, and the United Left said Poland’s nationalist government could not be trusted to meet obligations that come with EU cash.

The five groups account for more than three-quarters of deputies in the European Parliament. The only groups that did not sign were the far-right and eurosceptic blocs.

“We demand that the Commission, as guardian of the Treaties, refrains from approving the Polish recovery plan until all conditions under the Recovery and Resilience Regulation are met,” the letter from the five parliamentary groups said.

Since Poland’s Eurosceptic PiS party took power in late 2015, Warsaw has been at odds with the EU over changes introduced to its legal system, which EU institutions say violate the independence of courts.

Important Data: US Building Permits (Oct) today at 8:30 this time estimated 1.638M, previously which was 1.586M. US Crude Oil Inventories at 10:30 this time estimated 1.398M, previously which was 1.001M. CANADA Core CPI (MoM) (Oct) today at 8:30 previously which was 0.3%. UK CPI (YoY) (Oct) today at 2:00 this time estimated 3.9%, previously which was 3.1%.

TECHNICAL SUMMARY

GBPUSD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.34335, TAKE PROFIT AT 1.34137 AND STOP LOSS AT 1.34670

EURUSD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.13020, TAKE PROFIT AT 1.12885 AND STOP LOSS AT 1.13108

USDJPY Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 114.847, TAKE PROFIT AT 114.918 AND STOP LOSS AT 114.787

USDCHF Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.9316, TAKE PROFIT AT 0.9331 AND STOP LOSS AT 0.9306.

CAC 40 Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 7144.3 TAKE PROFIT AT 7156.3 AND STOP LOSS AT 7135.6

WTI CRUDE OIL Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 80.19 TAKE PROFIT AT 79.41 AND STOP LOSS AT 80.77

GOLD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1855.21, TAKE PROFIT AT 1868.58 AND STOP AT 1847.64

LITECOIN USD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 224.38 TAKE PROFIT AT 215.41 AND STOP AT 232.18

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