Technical Analysis with Candlestick Charts – 27 January 2022

Technical Analysis with Candlestick Charts – 27 January 2022

Technical Analysis

Asia Pacific stocks were down on Thursday morning. The Shanghai Composite is down 1.21% at 3,413.91. Overall, the Singapore MSCI is down 1.98% at 331.00. Over in Hong Kong, the Hang Seng Index down 2.62% at 23,676.00. In Japan, the Nikkei 225 is down 3.18% at 26,150.00, while the Topix index is down 2.62% at 1841.50. South Korea’s Kospi down 3.31% to 2619.42. Australia S&P/ASX 200 down 1.77% at 6838.30.

European equities Wednesday closing. The DAX futures contract in Germany traded up 2.22% at 15459.39, CAC 40 futures up 2.11% at 6981.97, and the UK 100 futures contract in the U.K. up 1.33% at 7,469.79.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.38% at 34168.10. The S&P 500 down 0.15% at 4349.92 and the Nasdaq 100 up 0.17% at 14172.76, NYSE closes down 0.64% at 16236.51.

In the Forex market, GBPUSD down 0.23% at 1.34290. The USDJPY up 0.05% at 114.695. The USDCHF up 0.05% at 0.92463. EURUSD down 0.19% at 1.122, EUR/GBP up 0.10% at 0.8356. The USD/CNY up 0.41% at 6.3450 at the time of writing.

In the commodity market, U.S. Gold futures are down 0.37% at $1,812.30. Elsewhere, Silver futures down 1.36% at $23.181 per ounce, Platinum down 1.02% at $1019.00 per ounce, and Palladium down 0.90% at $2309.50.

Crude Oil down on Thursday; Brent crude oil down 0.49% at $89.26 per barrel while U.S. West Texas Intermediate (CLc1) down 0.65% at $86.115.

In the Cryptocurrency Markets, Bitcoin at 35985.66 down 2.29%, Ethereum down 3.36% at 2381.04, Litecoin at 105.11 down 1.77%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Broadcom Inc. up 4.302% at $557.12, Teradyne Inc. up 3.673% at $143.37, Microsoft Corp. up 2.849% to $296.71, Discovery Inc. down 9.159% at $24.40,

AT&T Inc. down 8.422% to $24.25, Boeing Co. down 4.816% at $194.27.

Economic news:

US: U.S. economic growth likely accelerated in the fourth quarter as businesses replenished depleted inventories to meet strong demand for goods, helping the nation to log its best performance in nearly four decades in 2021.

Growth last year was fueled by the massive fiscal stimulus as well as very low-interest rates. The momentum, however, appears to have faded by December amid an onslaught of COVID-19 infections, fueled by the Omicron variant, which contributed to undercutting spending as well as disrupting activity at factories and services businesses.

The Commerce Department’s advance fourth-quarter gross domestic product report on Thursday would support the Federal Reserve’s pivot toward raising interest rates in March and diminish prospects of more spending by President Joe Biden’s government.

Fed Chair Jerome Powell told reporters on Wednesday after a two-day policy meeting that “the economy no longer needs sustained high levels of monetary policy support,” and that “it will soon be appropriate to raise” rates.

Eurozone: The German government expects consumer price inflation to rise further this year, contrary to earlier projections, which will likely lead to higher wage demands by labor unions, the economy ministry said in its annual economic report on Wednesday.

The government predicts a national inflation rate (CPI) of 3.3% for 2022 after 3.1% in 2021 as higher energy costs and a scarcity of semiconductors and other intermediate products continue to push up overall prices, the ministry said.

“The federal government is closely monitoring the development of the inflation rate and the key factors driving prices, especially those linked to energy markets and supply chain disruptions,” it said.

Presenting the report, Economy Minister Robert Habeck told reporters that Berlin expected inflation to ease next year to the European Central Bank’s price stability target of around 2%.

Important Data: US Core Durable Goods Orders (MoM) (Dec) today at 8:30 this time estimated 0.4%, previously which was 0.8%. US GDP (QoQ) (Q4) today at 8:30 this time estimated 5.5%, previously which was 2.3%. US Initial Jobless Claims today at 8:30 this time estimated 260K, previously which was 286K. AUSTRALIA PPI (QoQ) (Q4) today at 19:30 this time estimated 0.9%, previously which was 1.1%.

TECHNICAL REPORT

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.34242, TAKE PROFIT AT 1.34065 AND STOP LOSS AT 1.34565

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.12180, TAKE PROFIT AT 1.12132 AND STOP LOSS AT 1.12244

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.83501, TAKE PROFIT AT 0.83397 AND STOP LOSS AT 0.83697

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 128.564, TAKE PROFIT AT 128.375 AND STOP LOSS AT 128.796

EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 4067.00 TAKE PROFIT AT 4027.00 AND STOP LOSS AT 4107.00.

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 86.29 TAKE PROFIT AT 87.36 AND STOP LOSS AT 85.36

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1813.05, TAKE PROFIT AT 1808.51 AND STOP AT 1819.89

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 105.20 TAKE PROFIT AT 102.67 AND STOP AT 109.46

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