Technical Analysis Report – 08 January 2021

Technical Analysis Report – 08 January 2021

Asian shares rose to record highs on Friday. The Shanghai composite is down 0.61% at 3,553.998. Overall, the Singapore MSCI up 2.00% at 339.70. Over in Hong Kong, the Hang Seng Index up 1.32% to 27,913. In Japan, the Nikkei 225 up 2.11% at 28,020, while the Topix index was up 1.15% to 1847.5. South Korea’s Kospi up 3.57% to 3138.69. Australia S&P/ASX 200 up 0.68% to 6757.9.

European equities Thursday closing. The DAX futures contract in Germany traded 0.55% up at 13968.24, CAC 40 futures up 0.70% at 5669.9 and the UK 100 futures contract in the U.K. up 0.22% at 6,857.0.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.69% at 31041.7 the S&P 500 up 1.48% to 3803.8 and the Nasdaq 100 up 0.31% at 12981.4, NYSE closes at 14928.75 up 0.95%.

In the Forex market, GBPUSD down 0.01% at 1.35615. The USDJPY up 0.13% at 103.902. The USDCHF up 0.16% at 0.88564. EURUSD down 0.09% at 1.22586, EUR/GBP down 0.02% at 0.90398. The USD/CNY down 0.16% at 6.4651, at the time of writing.

In the commodity market U.S. Gold futures down 0.26% at $1,908.56. Elsewhere, Silver futures down 0.36% to $27.003 per ounce, Platinum down 0.11% at $1116.27 per ounce, and Palladium down 0.23% to $2,417.00.

Crude Oil up on Friday; Brent crude oil up 0.22% to $54.56 barrel while U.S. West Texas Intermediate (CLc1) is up 0.25% at $51.31.

In the Cryptocurrency Markets, BTCUSD at 37823.49 down 4.27%, Ethereum at 1145.70 down 6.43%, Litecoin at 157.18 down 7.51%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TESLA Inc. up 7.945% at $816.04, NVIDIA Corp. up 5.783% at $533.76, NETEASE Inc. up 7.992% to $111.89, Xilinx Inc. up 6.012% to $149.71, MODERNA Inc. down 1.006% to $115.09, KRAFT HEINZ Co. down 0.722% at $33.695.

Economic news:

US: President-elect Joe Biden will nominate Rhode Island Governor Gina Raimondo as his Commerce Department secretary and former union official and Boston Mayor Marty Walsh as Labor secretary, his transition team said late on Thursday.

The two Democrats will head sprawling agencies that will shape Biden’s agenda on climate change, technology, investment, the minimum wage and other workforce rules and policies.

Together with other top officials, they will “usher in a new wave of worker power, help struggling small businesses recover and re-open, and put Americans back to work by creating millions of good-paying union jobs,” the transition team said.

Eurozone: Britain has lost between 5,000 and 7,000 financial services jobs so far as a result of Brexit, less than some forecasters had originally feared, Bank of England Governor Andrew Bailey said on Wednesday.

“That of course is the day one thing. It doesn’t tell us what it might be eventually. It’s substantially less, I should say, than the sorts of numbers that were being talked about after the referendum,” he told the British parliament’s Treasury Committee.

Important Data: US Unemployment Rate (Dec) today at 8:30 this time estimate to be 6.8%, previously which was 6.7%. US Nonfarm Payrolls (Dec) today at 8:30 this time estimate to be 71K, previously which was 245K. CANADA Employment Change (Dec) today at 8:30 this time estimate to be -27.5K, previously which was 62.1K. UK Labour Productivity (Q3) today at 4:30 previously which was -1.8%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.35665, TAKE PROFIT AT 1.36112 AND STOP AT 1.35331

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.22590, TAKE PROFIT AT 1.22996 AND STOP LOSS AT 1.22222

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.88541, TAKE PROFIT AT 0.88919 AND STOP LOSS AT 0.88261

USDINR

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 73.3099, TAKE PROFIT AT 73.2366 AND STOP AT 73.4411

DJ EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3609 TAKE PROFIT AT 3638 AND STOP AT 3591

CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 51.20 TAKE PROFIT AT 51.88 AND STOP AT 50.32

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1907.54, TAKE PROFIT AT 1916.54 AND STOP AT 1899.05

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1168.00 TAKE PROFIT AT 1215.32 AND STOP AT 1122.33

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