Technical Analysis Report – 15 January 2021

Technical Analysis Report – 15 January 2021

Asian shares edged up near record highs on Friday. The Shanghai composite is down 0.52% at 3,546.95. Overall, the Singapore MSCI down 0.16% at 342.70. Over in Hong Kong, the Hang Seng Index down 0.44% to 28,351. In Japan, the Nikkei 225 down 1.11% at 28,490, while the Topix index is down 1.07% at 1855.5. South Korea’s Kospi down 1.58% to 3100.44. Australia S&P/ASX 200 flat at 6715.4.

European equities Friday closing. The DAX futures contract in Germany traded 0.35% up at 13988.70, CAC 40 futures up 0.33% at 5681.1 and the UK 100 futures contract in the U.K. up 0.84% at 6,802.0.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.22% at 30991.5 the S&P 500 down 0.38% to 3795.5 and the Nasdaq 100 down 0.35% at 12867.4, NYSE closes at 15044.38 up 0.41%.

In the Forex market, GBPUSD down 0.09% at 1.36724. The USDJPY flat at 103.80. The USDCHF up 0.13% at 0.88903. EURUSD down 0.10% at 1.21400, EUR/GBP up 0.06% at 0.88789. The USD/CNY down 0.08% at 6.4687, at the time of writing.

In the commodity market U.S. Gold futures up 0.21% at $1,849.44. Elsewhere, Silver futures down 0.15% to $25.456 per ounce, Platinum down 1.70% at $1099.20 per ounce, and Palladium down 0.73% to $2,396.00.

Crude Oil mix on Friday; Brent crude oil down 0.99% to $55.88 barrel while U.S. West Texas Intermediate (CLc1) is up 0.42% at $52.59.

In the Cryptocurrency Markets, BTCUSD at 38096.63 down 2.67%, Ethereum at 1208.67 down 1.97%, Litecoin at 148.75 down 2.64%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

AMERICAN AIRLINES up 5.86% at $16.44, MSCI Inc. down 6.588% at $409.52, MASTERCARD Inc. down 5.602% to $326.93, BLACKROCK Inc. down 4.649% to $743.50, VISA Inc. down 3.578% to $201.86, MODERNA Inc. up 7.904% at $105.8.

Economic news:

US: President-elect Joe Biden outlined a $1.9 trillion stimulus package proposal on Thursday, saying bold investment was needed to jump-start the economy and accelerate the distribution of vaccines to bring the coronavirus under control.

Biden campaigned last year on a promise to take the pandemic more seriously than President Donald Trump, and the package aims to put that pledge into action with an influx of resources for the COVID-19 response and economic recovery.

“A crisis of deep human suffering is in plain sight, and there’s no time to waste,” Biden said in prime-time remarks from Delaware. “We have to act and we have to act now.”

The aid package includes $415 billion to bolster the response to the virus and the rollout of COVID-19 vaccines, some $1 trillion in direct relief to households, and roughly $440 billion for small businesses and communities particularly hard hit by the pandemic.

Eurozone: European Central Bank chief economist Philip Lane faced pushback from fellow policymakers at the ECB’s latest meeting, when he proposed fresh measures aimed at helping the euro zone through the coronavirus pandemic, the official account of the meeting showed on Thursday.

Facing a new recession amid widespread lockdowns, the ECB approved fresh bond purchases and subsidised loans to banks at its Dec. 10 meeting, hoping to keep borrowing costs depressed until the bloc is ready to reopen.

But Lane’s plan to let banks borrow even more at negative rates from the ECB ran into resistance and was downsized – a rare occurrence pointing to growing scepticism at the top of the central bank about some aspects of its ultra-easy policy.

“A number of reservations were expressed with regard to the proposed increase in the borrowing allowance to 60%, related, in particular, to concerns that it would make banks increasingly dependent on the Euro system,” the ECB said in its account of the meeting.

Important Data: UK GDP (MoM) today at 2:00 previously which was 0.4%. French CPI (MoM) (Dec) today at 2:45 this time estimated 0.1%, previously which was 0.2%. US PPI (MoM) (Dec) today at 8:30 this time estimated 0.4%, previously which was 0.1%. US Retail Sales (MoM) (Dec) today at 8:30 this time estimated -0.2%, previously which was -1.1%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.36695, TAKE PROFIT AT 1.36986 AND STOP AT 1.36454

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.21380, TAKE PROFIT AT 1.21156 AND STOP LOSS AT 1.21696

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 141.867, TAKE PROFIT AT 142.220 AND STOP LOSS AT 141.599

AUDUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.77539, TAKE PROFIT AT 0.7777 AND STOP AT 0.77261

DJ EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3619 TAKE PROFIT AT 3640 AND STOP AT 3608 

CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 53.20 TAKE PROFIT AT 53.91 AND STOP AT 52.72

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1850.75, TAKE PROFIT AT 1834.95 AND STOP AT 1856.20

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 148.88 TAKE PROFIT AT 156.722 AND STOP AT 145.22

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