Technical Analysis Report – 14 April 2021

Technical Analysis Report – 14 April 2021

ASIAN MARKET:-

Mainland Chinese stocks were up by the early morning. The Shanghai Composite was up by 0.64% to 3,420.68. Hong Kong’s Hang Seng Index was up about 1.50% to 28,901.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading down 0.35 per cent at 29,646.06 on  Wednesday, while the  Australian Index S&P / ASX 200 rose  0.70 per cent to 7,025.71. South Korea’s Kospi was up by 0.49% to 3186.08.

EUROPEAN MARKET:-

The FTSE MIB climbed up by 0.59%  to 24,600. In the cash markets, the DAX futures Germany was trading 0.13%  higher at 15,234.25. CAC 40 futures in France climbed up by 0.36% to 6,184.60, while the FTSE 100 futures in the U.K. rose by 0.02% to 6,890.41, at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.20% at 33,677.27 the S&P 500 was up 0.29% to 4,141.86 and the Nasdaq 100 was up 1.05% at 13,996.35.

FOREX MARKET:-

In the Forex market, GBPUSD  rose 0.25% at 1.3782. The USDJPY was down 0.18% at 108.84. The USDCHF was down 0.09% at 0.9199. EURUSD was up 0.17% at 1.1967, EUR/GBP was down 0.06% at 0.8683, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures fell 0.02% at $1,747.60. Elsewhere, Silver futures rose 0.38% to $25.530 per ounce, Platinum rose 1.53% at $1,175.90 per ounce, and Palladium was down 0.06% at $2,694.50.

Crude Oil was up on Wednesday ; Brent crude oil was up 1.30% to $64.50 barrel while U.S. West Texas Intermediate (CLc1) rose 1.33% at $60.97.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD is at $64,298 up 5.97%, Ethereum at 2,381.22 up 10.29%, Litecoin at 277.541  up 11.11%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TOP STOCKS

Unilever up 0.06% at 4,138.20, Apple Inc. up 2.43% at $134.43, Facebook down 0.57% at $309.76, TESLA Inc. up 8.60% at $762.02, MICROSOFT Corp. up 1.01% at $258.91, J&J down 1.34% at $159.48, Toshiba Corp  up 5.77% at $4,860.0.

Economic news:

USA MARKET

USA MARKET

The U.S. economy could grow by around 5% to 6% this year, buoyed by increased vaccinations and strong fiscal aid, but the Federal Reserve is not going to pull back its support yet, Philadelphia Federal Reserve Bank President Patrick Harker said on Tuesday.

“For now, Fed policy is going to hold steady,” Harker said in remarks prepared for a virtual event organized by the Delaware State Chamber. “While the economic situation is improving, recovery is still in its early stages, and there’s no reason to withdraw support yet.”

Policymakers agreed last month to leave interest rates near zero and keep purchasing $120 billion a month in bonds until the economy makes “substantial further progress” toward the Fed’s goals for inflation and maximum employment.

A full economic rebound cannot happen until more people are vaccinated and the U.S. reaches herd immunity, he said. But the announcement Tuesday that federal health agencies recommended pausing use of Johnson & Johnson’s COVID-19 vaccine after six women developed rare blood clots could make more people hesitant to receive the vaccines and slow down the recovery, Harker said.

Despite concerns among some economists and politicians that inflation could shoot higher as the economy heals, Harker said he is concerned with the opposite – inflation that is too low. Over the longer term, the Fed wants inflation to run above its 2% target to make up for long periods of falling short of the goal, Harker said.

EUROZONE:-

USA MARKET

The European Parliament gave the go-ahead on Tuesday for two key committees to vote this week on the EU-UK trade deal, but deferred a decision on whether the full parliament will give its assent later this month.

Ratification by the parliament is the final step in clearing the trade and cooperation agreement struck between Britain and the European Union in December. It has until the end of April to do so.

If it does not, and the provisional application of the agreement is not extended, then the trade deal would cease to apply, leaving Britain and the European Union to trade on WTO terms with tariffs and quotas.

Members of the parliament suspended the voting process in March in protest against British changes to arrangements on Northern Ireland.

The British-ruled province of Northern Ireland in the EU single market for goods – given its open border with EU member Ireland – and so requires checks on goods arriving there from other parts of the United Kingdom.

Some checks were due to start when a grace period expired at the end of March, but Britain decided to extend that to Oct. 1 to help Northern Irish retailers struggling to source supplies. This prompted a legal challenge from Brussels.

Since then technical experts from both sides have sought to overcome differences, which Britain said on Monday were still “significant”.

Christophe Hansen, one of two lawmakers overseeing the process, said in a tweet that the parliament’s trade and foreign affairs committees would jointly vote this week. Two parliamentary officials said this would happen on Thursday.

However, Hansen added that a decision on when the full parliament would vote was deferred because parliament wanted to see progress on implementing the withdrawal agreement.

TECHNICAL SUMMARY

NZD/USD:-

NZD/USD Technical Analysis
NZD/USD

TRADE SUGGESTION- BUY AT 0.7095, TAKE PROFIT AT 0.7195 AND STOP LOSS AT 0.7045.

AUD/USD:-

AUD/USD  Technical Analysis
AUD/USD

TRADE SUGGESTION- BUY AT 0.7680, TAKE PROFIT AT 0.7780 AND STOP LOSS  AT 0.7630.

USD/CHF:-

USD/CHF  Technical Analysis
USD/CHF

TRADE SUGGESTION- Sell AT 0.9200 , TAKE PROFIT AT 0.9150 AND STOP LOSS AT 0.9225 .

EURO STOXX 50:-

EURO STOXX 50 Technical Analysis
EURO STOXX 50 Technical Analysis

TRADE SUGGESTION- BUY AT 3970.50, TAKE PROFIT AT 4020.50 AND STOP LOSS  AT 3945.50.

SILVER:-

SILVER Technical Analysis
 SILVER Technical Analysis

TRADE SUGGESTION- Buy AT 25.500, TAKE PROFIT AT 25.600  AND STOP LOSS AT 25.450 .

ETHEREUM:-

ETHEREUM Technical Analysis
ETHEREUM Technical Analysis

TRADE SUGGESTION- BUY AT 2,380.50, TAKE PROFIT AT 2,480.50 AND STOP LOSS 2,330.50 .

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