Technical Analysis Report – 11 January 2021

Technical Analysis Report – 11 January 2021

Asian shares paused near historic highs on Monday. The Shanghai composite is down 1.12% at 3,529.184. Overall, the Singapore MSCI down 0.38% at 341.15. Over in Hong Kong, the Hang Seng Index up 0.67% to 27,989. In Japan, the Nikkei 225 up 0.11% at 28,170, while the Topix index was up 1.75% to 1858.5. South Korea’s Kospi up 0.25% to 3159.65. Australia S&P/ASX 200 down 0.90% to 6697.2.

European equities Friday closing. The DAX futures contract in Germany traded 0.58% up at 14049.53, CAC 40 futures up 0.65% at 5706.9 and the UK 100 futures contract in the U.K. up 0.24% at 6,873.3.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.18% at 31098.0 the S&P 500 up 0.55% to 3824.7 and the Nasdaq 100 up 1.28% at 13105.2, NYSE closes at 14966.83 up 0.26%.

In the Forex market, GBPUSD down 0.42% at 1.34980. The USDJPY up 0.21% at 104.168. The USDCHF up 0.34% at 0.88812. EURUSD down 0.30% at 1.21826, EUR/GBP up 0.2% at 0.90250. The USD/CNY up 0.08% at 6.4816, at the time of writing.

In the commodity market U.S. Gold futures down 0.31% at $1,842.52. Elsewhere, Silver futures down 2.52% to $24.750 per ounce, Platinum down 1.69% at $1047.04 per ounce, and Palladium up 0.93% to $2,395.50.

Crude Oil mix on Monday; Brent crude oil down 1.80% to $55.24 barrel while U.S. West Texas Intermediate (CLc1) is up 1.60% at $52.13.

In the Cryptocurrency Markets, BTCUSD at 33804.62 down 11.48%, Ethereum at 1059.70 down 15.42%, Litecoin at 137.99 down 18.82%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TESLA Inc. up 7.84% at $870.02, WESTERN DIGITAL down 5.334% at $51.82, APCHE Corp. down 3.098% to $16.58, EBAY Inc. up 2.676% to $54.48, JD. Com Inc. up 4.117% to $91.54, INTEL Corp. down 1.035% at $51.65.

Economic news:

US: President-elect Joe Biden is due to announce plans for “trillions” in new relief bills this week, much of which will be paid for by increased borrowing.

At the same time, the Federal Reserve is sounding content to put the onus on fiscal policy with Vice Chair Richard Clarida saying there would be no change soon to the $120 billion of debt the Fed is buying each month.

With the Fed reluctant to purchase more longer-dated bonds, 10-year Treasury yields jumped almost 20 basis points last week to 1.12%, the biggest weekly rise since June.

Treasury futures lost another 3 ticks early Monday.

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 3-Year Note Auction today at 13:00 previously which was 0.211%. US 3-Month Bill Auction today at 11:30 previously which was 0.090%. JAPAN Current Account n.s.a. (Nov) today at 18:50 this time estimate to be 1.551T, previously which was 2.145T. French 6-Month BTF Auction today at 9:00 previously which was -0.605%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.35015, TAKE PROFIT AT 1.34623 AND STOP AT 1.35272

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 104.116, TAKE PROFIT AT 104.224 AND STOP LOSS AT 103.995

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.90280, TAKE PROFIT AT 0.90205 AND STOP LOSS AT 0.90346

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 140.452, TAKE PROFIT AT 140.690 AND STOP AT 140.246

DOW JONES 

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 30804 TAKE PROFIT AT 30900 AND STOP AT 30692

CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 51.71 TAKE PROFIT AT 52.72 AND STOP AT 51.26

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1846.71, TAKE PROFIT AT 1817.19 AND STOP AT 1853.93

BTCUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 34407 TAKE PROFIT AT 35801.00 AND STOP AT 33256.0

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