Technical Analysis Report – 17 February 2021

Technical Analysis Report – 17 February 2021

Asia Pacific stocks were mostly down on Wednesday morning. The Shanghai composite is up 1.43% at 3,655.08. Overall, the Singapore MSCI down 0.21% at 334.35. Over in Hong Kong, the Hang Seng Index up 0.84% to 30,956. In Japan, the Nikkei 225 down 0.95% at 30,310, while the Topix index is up 0.81% at 1962.5. South Korea’s Kospi down 0.94% to 3133.72. Australia S&P/ASX 200 down 0.46% at 6885.2.

European equities Tuesday closing. The DAX futures contract in Germany traded 0.32% down at 14064.60, CAC 40 futures flat at 5786.5 and the UK 100 futures contract in the U.K. up 0.28% at 6,764.8.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.20% up at 31522.8 the S&P 500 down 0.06% to 3932.6 and the Nasdaq 100 up 0.06% at 13771.4, NYSE closes at 15423.02 up 0.35%.

In the Forex market, GBPUSD down 0.13% at 1.38841. The USDJPY down 0.08% at 105.95. The USDCHF up 0.16% at 0.89346. EURUSD down 0.16% at 1.20862, EUR/GBP flat at 0.87065. The USD/CNY down 0.05% at 6.4542, at the time of writing.

In the commodity market U.S Gold futures up 0.28% at $1,789.66. Elsewhere, Silver futures up 0.07% to $27.225 per ounce, Platinum down 0.84% at $1249.41 per ounce, and Palladium down 0.17% to $2,387.5.

Crude Oil up on Wednesday; Brent crude oil up 0.11% to $63.51 barrel while U.S. West Texas Intermediate (CLc1) is up 0.38% at $58.25.

In the Cryptocurrency Markets, BTCUSD at 49936.0 up 1.61%, Ethereum at 1758.48 down 1.27%, Litecoin at 212.27 up 0.72%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Carnival Corp up 9.078% at $22.47, Apache Corp up 6.29% at $18.58,

JD. Com Inc down 4.149% to $103.43, NVIDIA Corp. up 2.466% to $613.21,

PayPal Holdings Inc up 2.152% to $304.79, Moderna Inc down 2.836% at $178.53.

Economic news:

US: Treasury Secretary Janet Yellen stressed the importance of cooperation with the European Union in a call with the European Commission’s vice president for the economy, Valdis Dombrovskis, on Tuesday, the U.S. Treasury Department said.

Earlier on Tuesday, Yellen in a conversation with European Central Bank President Christine Lagarde had also underscored ways to deepen transatlantic cooperation on economic and financial issues.

In her discussion with the EU executive, Yellen emphasized the importance of the transatlantic partnership and said she aimed to work more closely with Brussels on key challenges, including “ending the pandemic, supporting a strong global economic recovery, fighting income inequality, and forcefully addressing the threat of climate change,” the Treasury said.

Eurozone: British finance minister Rishi Sunak’s annual budget on March 3 is set to have a green tinge, even as the country goes hundreds of billions of pounds into the red to fund its response to the coronavirus pandemic.

Sunak will move forward with plans to launch Britain’s first “green” government bonds – designed to finance environmentally friendly investments – and might also nudge the Bank of England to focus more on climate change.

But any progress on carbon taxes – endorsed by the International Monetary Fund in October – is likely to be slow as Sunak grapples with how best to close a 400-billion-pound ($556 billion) budget deficit, the largest since World War Two.

Important Data: UK CPI (YoY) (Jan) today at 2:00 this time estimated 0.6%, previously which was 0.6%. US Core Retail Sales (MoM) (Jan) today at 8:30 this time estimated 1.0%, previously which was -1.4%. CANADA Core CPI (MoM) (Jan) today at 8:30 previously which was -0.4%. AUSTRALIA Employment Change (Jan) today at 19:30 this time estimated 40.0K, previously which was 50.0K.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis of the Financial Markets
Technical Analysis of the Financial Markets

TRADE SUGGESTION- SELL AT 1.3864, TAKE PROFIT AT 1.37785 AND STOP LOSS AT 1.39380

EURUSD

Technical Analysis of the Financial Markets
Technical Analysis of the Financial Markets

TRADE SUGGESTION- SELL AT 1.20639, TAKE PROFIT AT 1.20368 AND STOP LOSS AT 1.21011

EURGBP

Technical Analysis of the Financial Markets
Technical Analysis of the Financial Markets

TRADE SUGGESTION- SELL AT 0.86989, TAKE PROFIT AT 0.86769 AND STOP LOSS AT 0.87185

EURJPY

Technical Analysis of the Financial Markets
Technical Analysis of the Financial Markets

TRADE SUGGESTION- BUY AT 127.832, TAKE PROFIT AT 128.418 AND STOP LOSS AT 127.468

DOW JONES 

Technical Analysis of the Financial Markets
Technical Analysis of the Financial Markets

TRADE SUGGESTION- BUY AT 31449 TAKE PROFIT AT 31484 AND STOP LOSS AT 31425

WTI CRUDE OIL

Technical Analysis of the Financial Markets
Technical Analysis of the Financial Markets

TRADE SUGGESTION- BUY AT 60.61 TAKE PROFIT AT 61.85 AND STOP LOSS AT 59.89

GOLD

Technical Analysis of the Financial Markets
Technical Analysis of the Financial Markets

TRADE SUGGESTION- SELL AT 1786.07, TAKE PROFIT AT 1779.13 AND STOP AT 1793.10

LITECOIN USD

Technical Analysis of the Financial Markets
Technical Analysis of the Financial Markets

TRADE SUGGESTION- BUY AT 224.70 TAKE PROFIT AT 230.44 AND STOP AT 221.93

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