Technical Analysis Report – 18 January 2021

Technical Analysis Report – 18 January 2021

Asian shares pared early losses on Monday. The Shanghai composite is up 1.03% at 3,602.938. Overall, the Singapore MSCI down 0.66% at 339.70. Over in Hong Kong, the Hang Seng Index up 0.56% to 28,753. In Japan, the Nikkei 225 down 0.95% at 28,190, while the Topix index is down 0.59% at 1835.0. South Korea’s Kospi down 2.33% to 3013.93. Australia S&P/ASX 200 down 0.78% at 6666.3.

European equities Friday closing. The DAX futures contract in Germany traded 1.44% down at 13787.73, CAC 40 futures down 1.22% at 5611.7 and the UK 100 futures contract in the U.K. down 0.97% at 6,735.7.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.57% at 30814.3 the S&P 500 down 0.72% to 3768.3 and the Nasdaq 100 up 0.16% at 12793.6, NYSE closes at 14984.16 down 1.00%.

In the Forex market, GBPUSD down 0.08% at 1.35653. The USDJPY down 0.08% at 103.73. The USDCHF up 0.03% at 0.89146. EURUSD up 0.02% at 1.20769, EUR/GBP up 0.28% at 0.89023. The USD/CNY up 0.08% at 6.4854, at the time of writing.

In the commodity market U.S. Gold futures up 0.58% at $1,838.22. Elsewhere, Silver futures up 1.23% to $25.032 per ounce, Platinum up 1.60% at $1085.56 per ounce, and Palladium up 0.02% to $2,391.00.

Crude Oil mix on Monday; Brent crude oil up 0.04% to $54.82 barrel while U.S. West Texas Intermediate (CLc1) is down 0.74% at $52.20.

In the Cryptocurrency Markets, BTCUSD at 35129.58 down 1.93%, Ethereum at 1197.00 down 2.93%, Litecoin at 139.72 down 2.04%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

FACEBOOK up 2.329% at $251.36, HOOME DEPOT Inc. up 2.702% at $275.59, WELLS FARGO & Co. down 7.799% to $32.04, CITI GROUP Inc. down 6.927% to $64.23, APACHE Corp. down 5.886% to $17.27, INTEL Corp. down 2.819% at $57.58.

Economic news:

US: Janet Yellen, President-elect Joe Biden’s pick to take over the U.S. Treasury, is expected to affirm the United States’ commitment to market-set currency rates when she testifies on Capitol Hill on Tuesday, the Wall Street Journal reported.

The Treasury secretary nominee will make clear at a Senate confirmation hearing that the United States does not seek a weaker dollar, citing Biden transition officials familiar with her preparation.

“The value of the U.S. dollar and other currencies should be determined by markets. Markets adjust to reflect variations in economic performance and generally facilitate adjustments in the global economy,” Yellen will say according to the report, if asked about the incoming administration’s dollar policy.

Eurozone: Britain should not engage in free trade with countries that abuse human rights, but proposals that the country’s courts should decide whether genocide has been committed by trade partners is flawed, foreign minister Dominic Raab said.

Last week, Raab said Britain would introduce new rules for its companies to try to prevent goods linked to China’s Xinjiang region entering their supply chains.

Some British lawmakers want to go further and are due to consider proposals passed in the upper house of parliament that would give courts the power to stop free-trade agreements with countries if they consider them to have committed genocide.

Important Data: CANADA Housing Starts (Dec) today at 8:15 this time estimated 2225.0K, previously which was 246.0K. NEW ZEALAND NZIER Business Confidence (Q4) today at 16:00 previously which was -40%. CANADA Foreign Securities Purchases (Nov) today at 8:30 previously which was 6.92B. ITALY Italian CPI (MoM) (Dec) today at 4:00 this time estimated 0.3%, previously which was -0.1%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.35615, TAKE PROFIT AT 1.35348 AND STOP AT 1.35927

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.20748, TAKE PROFIT AT 1.20543 AND STOP LOSS AT 1.20895

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 125.300, TAKE PROFIT AT 125.052 AND STOP LOSS AT 125.459

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 140.700, TAKE PROFIT AT 140.279 AND STOP AT 141.265

FTSE 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 6722.6 TAKE PROFIT AT 6851.9 AND STOP AT 6630.3

CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 52.18 TAKE PROFIT AT 51.42 AND STOP AT 52.73

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1836.09, TAKE PROFIT AT 1829.02 AND STOP AT 1844.32

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 36189 TAKE PROFIT AT 36564 AND STOP AT 34704

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