Technical Analysis Report – 04 January 2021

Technical Analysis Report – 04 January 2021

Asian shares resumed their ascent on Monday as investors pinned their hope on vaccines to eventually deliver a global economic upturn, even as a possible tightening in virus rules for Tokyo pulled Japanese stocks off 30-year highs. The Shanghai composite is up 0.78% at 3,500.424. Overall, the Singapore MSCI up 0.03% at 323.40. Over in Hong Kong, the Hang Seng Index up 0.54% to 27,367. In Japan, the Nikkei 225 down 0.84% at 27,220, while the Topix index was down 1.05% to 1790.5. South Korea’s Kospi up 2.43% to 2943.36. Australia S&P/ASX 200 up 1.47% to 6684.2.

European equities Friday closing. The DAX futures contract in Germany traded 0.31% down at 13718.78, CAC 40 futures up 0.86% at 5551.4 and the UK 100 futures contract in the U.K. down 1.45% at 6,460.5.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.35% at 30173.9 the S&P 500 up 0.64% to 3756.1 and the Nasdaq 100 down 0.09% at 12887.4, NYSE closes at 14524.803 down 0.33%.

In the Forex market, GBPUSD up 0.16% at 1.36778. The USDJPY down 0.21% at 103.036. The USDCHF down 0.15% at 0.88427. EURUSD up 0.25% at 1.22474, EUR/GBP up 0.11% at 0.89452. The USD/CNY down 0.95% at 6.4637, at the time of writing.

In the commodity market U.S. Gold futures up 1.32% at $1,922.79. Elsewhere, Silver futures up 2.79% to $27.071 per ounce, Platinum up 1.78% at $1091.32 per ounce, and Palladium up 0.61% to $2,469.00.

Crude Oil up on Monday; Brent crude oil up 2.32% to $52.90 barrel while U.S. West Texas Intermediate (CLc1) is up 0.18% at $49.49.

In the Cryptocurrency Markets, BTCUSD at 33148.34 up 0.15%, Ethereum at 1091.58 up 11.55%, Litecoin at 172.65 up 7.40%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

ETSY Inc. down 2.877% at $177.91, WESTERN DIGITAL up 11.8316% at $55.39, MICRO TECHNOLOGY up 5.733% to $75.18, NETFLIX Inc. up 3.077% to $540.73, Technip FMC PLC down 2.287% to $9.40, Moderna Inc. up 5.993% at $104.47.

Economic news:

US: The U.S. Department of Labor on Friday finalized a rule requiring pension funds to vote on shareholder proposals only when there is an economic reason, a change that would curb investors from casting their ballots on many corporate proxies.

The new rule is the latest from the Trump administration targeting investments focusing on environmental, social and governance (ESG) factors.

Last month, the Department of Labor finalized a rule clarifying that pensions must put retirees’ financial interests first when allocating investments, rather than other concerns such as climate change or racial justice

Eurozone: The European Commission said on Thursday that new U.S. tariffs on EU products disrupted ongoing negotiations with Washington to resolve a 16-year battle over aircraft subsidies and it hoped to find a swift solution with the next U.S. president, Joe Biden.

The Commission, which coordinates trade policy for the 27-nation European Union, said it regretted the U.S. action, which “unilaterally” disrupted ongoing talks about subsidies for European plane maker Airbus and U.S. rival Boeing (NYSE:BA).

Important Data: UK Manufacturing PMI (Dec) today at 4:30 this time estimate to be 57.3, previously which was 55.6. German Manufacturing PMI (Dec) today at 3:55 this time estimate to be 58.6, previously which was 58.6. Italian Manufacturing PMI (Dec) today at 3:45 this time estimate to be 53.7, previously which was 51.5. JAPAN Monetary Base (YoY) today at 18:50 previously which was 16.5%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.36855, TAKE PROFIT AT 1.37520 AND STOP AT 1.36098

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 102.883, TAKE PROFIT AT 102.537 AND STOP LOSS AT 103.170

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 126.147, TAKE PROFIT AT 125.997 AND STOP LOSS AT 126.336

USDCAD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.26910, TAKE PROFIT AT 1.26545 AND STOP AT 1.27053

FTSE 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 6406.9 TAKE PROFIT AT 6355.3 AND STOP AT 6430.4

BRENT CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 53.03 TAKE PROFIT AT 53.66 AND STOP AT 52.43

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1931.83, TAKE PROFIT AT 1941.96 AND STOP AT 1924.48

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 32303 TAKE PROFIT AT 31792.98 AND STOP AT 33320

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