Technical Analysis Report – 12 January 2021

Technical Analysis Report – 12 January 2021

Asia Pacific stocks were mostly up on Tuesday morning, after U.S. shares declined for the first time in five sessions overnight. The Shanghai composite is up 1.32% at 3,578.238. Overall, the Singapore MSCI down 0.25% at 339.45. Over in Hong Kong, the Hang Seng Index up 0.52% to 28,132. In Japan, the Nikkei 225 up 0.32% at 28,230, while the Topix index is flat at 1858.5. South Korea’s Kospi down 0.96% to 3118.70. Australia S&P/ASX 200 down 0.27% to 6679.1.

European equities Monday closing. The DAX futures contract in Germany traded 0.80% down at 13936.66, CAC 40 futures down 0.78% at 5662.4 and the UK 100 futures contract in the U.K. down 1.09% at 6,798.5.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.29% at 31008.7 the S&P 500 down 0.66% to 3799.6 and the Nasdaq 100 down 1.55% at 12902.5, NYSE closes at 14937.96 down 0.19%.

In the Forex market, GBPUSD up 0.26% at 1.35446. The USDJPY down 0.03% at 104.100. The USDCHF up 0.05% at 0.89060. EURUSD up 0.03% at 1.21537, EUR/GBP down 0.13% at 0.89735. The USD/CNY down 0.26% at 6.4640, at the time of writing.

In the commodity market U.S. Gold futures up 0.74% at $1,856.42. Elsewhere, Silver futures up 1.97% to $25.374 per ounce, Platinum up 3.21% at $1064.05 per ounce, and Palladium up 0.57% to $2,386.50.

Crude Oil mix on Tuesday; Brent crude oil up 0.31% to $55.78 barrel while U.S. West Texas Intermediate (CLc1) is down 0.06% at $52.10.

In the Cryptocurrency Markets, BTCUSD at 35787.73 up 0.97%, Ethereum at 1125.39 up 3.42%, Litecoin at 143.51 up 3.30%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

BIOGEN Inc. up 5.932% at $267.52, ETSY Inc. up 4.207% at $183.04, FORD MOTOR Co. up 3.333% to $9.30, TESLA Inc. down 7.821% to $811.19, TWITTER Inc. down 6.41% to $48.18, DEXCOM Inc. down 4.496% at $370.64.

Economic news:

US: The U.S. government on Monday was set to re-open its signature small business pandemic aid program with $284 billion in new funds and revamped rules that aim to get cash to the neediest businesses while stamping out fraud and abuse.

The Small Business Administration (SBA) announced on Friday that it would launch a third round of the Pay check Protection Program (PPP) this week, starting with small community financial institutions on Monday, and larger lenders in coming days.

By prioritizing smaller lenders, the SBA hopes to address criticism from lawmakers that minority and women-owned businesses did not get enough money during the first two PPP rounds last year compared with bigger businesses.

Eurozone: The European Union is working on a proposal for the incoming Biden administration on a new trade relationship, including settling a longstanding aircraft dispute that has seen the allies impose tariffs on $11.5 billion of each other’s exports, according to people familiar with the matter.

The EU is in discussions with member states affected by the conflict, including Germany and France, over how to resolve the issue of illegal aid both sides provided to Airbus SE (OTC:EADSY) and Boeing (NYSE:BA) Co., said the people, who asked not to be identified because preparations are ongoing.

The proposal from the European Commission, the bloc’s executive, would seek to cover the broader trade relationship with the U.S., not just the aircraft dispute, one of the people said.

Important Data: RUSSIA CPI (YoY) (Dec) today at 11:00 this time estimate to be 4.7%, previously which was 4.4%. US API Weekly Crude Oil Stock today at 16:30 previously which was -1.663M. BRAZIL CPI (YoY) (Dec) today at 7:00 this time estimate to be 4.38%, previously which was 4.31%. US JOLTs Job Openings (Nov) today at 10:00 previously which was 6.652M.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.35400, TAKE PROFIT AT 1.35707 AND STOP AT 1.35174

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.21491, TAKE PROFIT AT 1.21191 AND STOP LOSS AT 1.21733

AUDUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.77130, TAKE PROFIT AT 0.77411 AND STOP LOSS AT 0.76630

USDMXN

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 20.0153, TAKE PROFIT AT 19.94814 AND STOP AT 20.14543

DAX 30

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 13926.6 TAKE PROFIT AT 14063 AND STOP AT 13763.9

CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 52.49 TAKE PROFIT AT 53.50 AND STOP AT 51.67

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1859.52, TAKE PROFIT AT 1843.96 AND STOP AT 1868.71

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1141 TAKE PROFIT AT 1261.69 AND STOP AT 1012.38

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