Technical Analysis Report – 02 March 2021

Technical Analysis Report – 02 March 2021

Asia Pacific stocks were mostly down Tuesday morning. The Shanghai composite is down 1.56% at 3,496.23. Overall, the Singapore MSCI down 0.18% at 341.05. Over in Hong Kong, the Hang Seng Index down 1.36% to 28,849. In Japan, the Nikkei 225 down 0.57% at 29,410, while the Topix index is down 0.24% at 1894.5. South Korea’s Kospi up 1.14% to 3047.39. Australia S&P/ASX 200 down 0.40% at 6762.3.

European equities Monday closing. The DAX futures contract in Germany traded 1.64% up at 14012.82, CAC 40 futures up 1.57% at 5792.8 and the UK 100 futures contract in the U.K. up 1.62% at 6,588.5.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.95% up at 31535.5 the S&P 500 up 2.38% to 3901.8 and the Nasdaq 100 down 0.37% at 13268.2, NYSE closes at 15327.77 up 2.11%.

In the Forex market, GBPUSD down 0.24% at 1.38920. The USDJPY up 0.07% at 106.832. The USDCHF up 0.10% at 0.91583. EURUSD down 0.20% at 1.20248, EUR/GBP up 0.06% at 0.86564. The USD/CNY up 0.11% at 6.4722, at the time of writing.

In the commodity market U.S Gold futures down 0.36% at $1,717.85. Elsewhere, Silver futures down 1.47% to $26.159 per ounce, Platinum down 0.59% at $1176.45 per ounce, and Palladium down 0.30% to $2,353.50.

Crude Oil down on Tuesday; Brent crude oil down 0.33% to $63.00 barrel while U.S. West Texas Intermediate (CLc1) is down 1.39% at $61.53.

In the Cryptocurrency Markets, BTCUSD at 48374.13 down 2.53%, Ethereum at 1539.42 down 2.06%, Litecoin at 171.54 down 2.75%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

ETSY Inc. up 11.037% at $244.58, INVESCO Ltd. up 10.348% at $24.74, TESLA Inc. up 6.355% to $718.43, DISCOVERY Inc. up 9.712% to $58.18, CARNIVAL Corp. down 1.645% to $26.31, APACHE Corp. down 1.064% at $19.52.

Economic news:

US: The U.S. Senate will begin debating President Joe Biden’s $1.9 trillion coronavirus relief bill this week, Senate Majority Leader Chuck Schumer said on Monday.

In remarks on the Senate floor, Schumer, a Democrat, did not say when the chamber might vote on the bill.

Eurozone: Banks in the European Union would have to publish a ground breaking “green asset ratio” (GAR) as a core measure of their climate-friendly business activities from next year, the EU’s banking watchdog proposed on Monday.

As the trend in sustainable investing gathers pace, regulators want investors to get more reliable information on a bank’s exposures to climate change as storms and other weather events affect the value of their assets and liabilities.

The European Banking Authority (EBA) said the ratio, put out to formal public consultation on Monday, will measure the amount of climate-friendly loans, advances and debt securities compared to total assets on a lender’s balance sheet to reach a percent figure.

“I believe it’s the first-time regulators are asking for a green asset ratio,” said Piers Haben, EBA’s director of banking, markets, innovation and consumers.

Important Data: UK Nationwide HPI (YoY) (Feb) today at 2:00 this time estimated -0.3%, previously which was -0.3%. German Unemployment Change (Feb) today at 3:55 this time estimated -13K, previously which was -41K. CANADA GDP (MoM) (Dec) today at 8:30 this time estimated 0.3%, previously which was 0.7%. AUSTRALIA GDP (QoQ) (Q4) today at 19:30 this time estimated 2.5%, previously which was 3.3%.

TECHNICAL SUMMARY

GBPUSD

GBPUSD  Technical Analysis
GBPUSD  Technical Analysis

TRADE SUGGESTION- SELL AT 1.38845, TAKE PROFIT AT 1.38266 AND STOP LOSS AT 1.39484

EURUSD

EURUSD  Technical Analysis
EURUSD Technical Analysis

TRADE SUGGESTION- SELL AT 1.20172, TAKE PROFIT AT 1.19988 AND STOP LOSS AT 1.20334

EURJPY

EURJPY Technical Analysis
EURJPY Technical Analysis

TRADE SUGGESTION- BUY AT 128.370, TAKE PROFIT AT 128.514 AND STOP LOSS AT 128.255

NZDUSD

NZDUSD Technical Analysis
NZDUSD Technical Analysis

TRADE SUGGESTION- SELL AT 0.72327, TAKE PROFIT AT 0.72059 AND STOP LOSS AT 0.72759

DOW JONES 

DOW JONES Technical Analysis
DOW JONES  Technical Analysis

TRADE SUGGESTION- BUY AT 31408 TAKE PROFIT AT 31582 AND STOP LOSS AT 31305

WTI CRUDE OIL

WTI CRUDE OIL Technical Analysis
WTI CRUDE OIL Technical Analysis

TRADE SUGGESTION- SELL AT 60.02 TAKE PROFIT AT 59.46 AND STOP LOSS AT 60.55

GOLD

GOLD Technical Analysis
GOLD Technical Analysis

TRADE SUGGESTION- SELL AT 1721.09, TAKE PROFIT AT 1710.02 AND STOP AT 1729.23

LITECOIN USD

LITECOIN USD Technical Analysis
LITECOIN USD Technical Analysis

TRADE SUGGESTION- SELL AT 172.78 TAKE PROFIT AT 169.44 AND STOP AT 176.80

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