Technical Analysis Report – 19 January 2021

Technical Analysis Report – 19 January 2021

Asian shares climbed on Tuesday. The Shanghai composite is down 0.76% at 3,568.60. Overall, the Singapore MSCI up 0.35% at 341.75. Over in Hong Kong, the Hang Seng Index up 2.66% to 29,596. In Japan, the Nikkei 225 up 1.53% at 28,620, while the Topix index is up 0.71% at 1854.0. South Korea’s Kospi up 2.51% to 3089.48. Australia S&P/ASX 200 up 1.19% at 6742.6.

European equities Monday closing. The DAX futures contract in Germany traded 0.44% up at 13848.35, CAC 40 futures up 0.10% at 5617.3 and the UK 100 futures contract in the U.K. down 0.22% at 6,720.7.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.57% at 30814.3 the S&P 500 up 0.41% to 3792.4 and the Nasdaq 100 up 0.83% at 12931.1, NYSE closes at 14894.16 down 1.00%.

In the Forex market, GBPUSD up 0.17% at 1.36083. The USDJPY up 0.30% at 103.992. The USDCHF up 0.08% at 0.89085. EURUSD up 0.17% at 1.20956, EUR/GBP up 0.02% at 0.88886. The USD/CNY down 0.02% at 6.4887, at the time of writing.

In the commodity market U.S. Gold futures up 0.02% at $1,837.10. Elsewhere, Silver futures up 0.67% to $25.095 per ounce, Platinum up 1.27% at $1093.83 per ounce, and Palladium up 0.04% to $2,379.00.

Crude Oil mix on Monday; Brent crude oil up 0.42% to $54.94 barrel while U.S. West Texas Intermediate (CLc1) is down 0.74% at $52.20.

In the Cryptocurrency Markets, BTCUSD at 36403.46 down 0.58%, Ethereum at 1330.00 up 5.74%, Litecoin at 158.08 down 4.25%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

FACEBOOK up 2.329% at $251.36, HOME 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, U.S. President-elect Joe Biden’s nominee to run the Treasury Department, will tell the Senate Finance Committee on Tuesday that the government must “act big” with its next coronavirus relief package.

Biden, who will be sworn into office on Wednesday, outlined a $1.9 trillion stimulus package proposal last week, saying bold investment was needed to jump-start the economy and accelerate the distribution of vaccines to bring the virus under control.

“Neither the president-elect, nor I, propose this relief package without an appreciation for the country’s debt burden. But right now, with interest rates at historic lows, the smartest thing we can do is act big,” Yellen, a former Federal Reserve chair, said in a prepared opening statement for her hearing before the committee.

Eurozone: British firms called on Tuesday for another 7.6 billion pounds ($10.3 billion) of emergency government help, saying they cannot wait until finance minister Rishi Sunak’s March budget to learn if they will get more pandemic support.

With Britain back under lockdown and companies adjusting to life after Brexit, firms are taking big decisions about jobs and investment and need to know if their financial lifelines will be extended, the Confederation of British Industry said.

Important Data: German CPI (MoM) (Dec) today at 2:00 this time estimated 0.5%, previously which was -0.8%. SWITZERLAND PPI (MoM) (Dec) today at 2:30 previously which was -0.1%. UK Labour Productivity (Q3) today at 4:30 previously which was -1.8%. US TIC Net Long-Term Transactions (Nov) today at 16:00 previously which was 51.9B.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.36, TAKE PROFIT AT 1.36409 AND STOP AT 1.35710

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.20922, TAKE PROFIT AT 1.20699 AND STOP LOSS AT 1.21090

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.89087, TAKE PROFIT AT 0.89239 AND STOP LOSS AT 0.89000

AUDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 80.2140, TAKE PROFIT AT 80.3813 AND STOP AT 80.0473

DJ EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3597 TAKE PROFIT AT 3617 AND STOP AT 3583

CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 52.34 TAKE PROFIT AT 52.70 AND STOP AT 51.79

SILVER

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 25.119, TAKE PROFIT AT 24.818 AND STOP AT 25.551

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 159.53 TAKE PROFIT AT 163.77 AND STOP AT 156.86

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