TECHNICAL ANALYSIS REPORT – 19 JULY 2022

TECHNICAL ANALYSIS REPORT – 19 JULY 2022

Technical Analysis

U.S. STOCKS IN RED ON MONDAY CLOSING AFTER APPLE SLOW HIRING REPORT

Asia-Pacific stocks were mostly down on Tuesday morning. The Shanghai Composite is up 0.04% at 3,279.43. Overall, the Singapore MSCI is down 0.49% at 284.40. Over in Hong Kong, the Hang Seng Index is down 0.67% at 20,711. In Japan, the Nikkei 225 is up 0.64% at 26,930.00, while the Topix index is up 0.53% at 1900.00. South Korea’s Kospi is down 0.18% at 2,370.97. Australia S&P/ASX 200 down 0.56% at 6649.60.

Top News of the Day:

U.S. stocks ended in the red on Monday, killing a rally after a report Apple would slow hiring. The markets had been higher earlier as big banks kicked off another busy week of earnings and expectations eased about a big interest rate increase by the Fed.

At 4:05 PM ET, the Dow Jones Industrial Average was down 216, or about 0.7%, while the S&P 500 was down 0.8% and the NASDAQ Composite fell 0.8%.

Market Summary as per 18/07/2022:

European equities Monday closing. The DAX futures contract in Germany traded down 0.52% at 12,893.77, CAC 40 futures down 0.43% at 6062.84 and the UK 100 futures contract in the U.K. down 0.37% at 7,196.78.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.69% at 31072.62. The S&P 500 down 0.84% at 3830.86 and the Nasdaq 100 down 0.89% at 11877.50, NYSE closes down 0.32% at 14403.18.

Top Market News Today:

In the Forex market, GBPUSD up 0.30% at 1.1984. The USDJPY down 0.16% at 137.909. The USDCHF down 0.39% at 0.9734. EURUSD up 0.40% at 1.0182, EUR/GBP up 0.11% at 0.8492. The USD/CNY up 0.09% at 6.7480 at the time of writing.

In the Commodity market U.S. Gold futures down 0.06% at $1,708.63. Elsewhere, Silver futures up 0.30% at $18.752 per ounce, Platinum down 0.12% at $864.50 per ounce, and Palladium up 1.18% at $1879.50.

Crude Oil up on Tuesday; Brent Crude Oil up 1.13% at $106.84 per barrel while U.S. West Texas Intermediate (CLc1) up 1.28% at $99.86.

In the Cryptocurrency Markets, Bitcoin at 21855.00 up 1.09%, Ethereum down 3.86% at 1520.06, Litecoin at 56.58 down 3.43%, at the time of writing.

Top Market Segment to Watch Out Today:

TWITTER: Twitter Inc (NYSE:TWTR) on Monday accused Elon Musk of trying to “slow walk” the company’s lawsuit to hold him to his $44 billion takeover and urged a September trial to ensure deal financing remains in place, according to a court filing.

Economic News:

US: U.S. home builder sentiment plummeted in July to its lowest level since the early months of the coronavirus pandemic, as high inflation and the steepest borrowing costs in more than a decade brought customer traffic to a near standstill.

At the same time, a gauge of activity in the services sector activity in the U.S. Northeast turned negative this month for the first time in a year, and firms there do not see an improvement over the next six months.

The National Association of Home Builders/Wells Fargo Housing Market Index fell for a seventh straight month to 55, the lowest level since May 2020, from 67 in June, NAHB said in a statement on Monday. Readings above 50 mean more builders view market conditions as favourable than poor.

July’s reading was below all 31 estimates in a Reuters poll of economists, which had a median expectation for a decline to 65. Moreover, the 12-point drop was the second-largest in the history of the series dating to 1985, exceeded only by the 42-point plunge in April 2020 when most of the country was under a COVID-19 lockdown.

Eurozone: Britain’s unemployment rate held at 3.8% in the three months to May and the number of people in work rose by the most since the middle of 2021, suggesting the cost-of-living squeeze has not yet hit demand for staff, official figures showed.

Economists polled by Reuters had expected the jobless rate to rise to 3.9% from 3.8% in the previous reading.

Tuesday’s data showed an increase of 296,000 in the number of people in employment, the biggest increase since the three months to August last year.

The Reuters poll had pointed to an increase of 170,000.

While the number of people in work remains below its level just before the COVID-19 pandemic, the number of people in full-time employment hit a record high in contrast to the number of self-employed people, which remains lower.

Top Economic Releases Today:

  1. U.K. Claimant Count Change (Jun) today at 2:00 this time estimated -41.2K, previously which was -34.7K.
  2. this time estimated 8.6%, previously which was 8.1%.
  3. U.S. Building Permits (Jun) today at 8:30 this time estimated 1.650M, previously which was 1.695M.
  • NEW ZEALAND Global Dairy Trade Price Index today at 11:00 previously which was -4.1%.
  • AUSTRALIA RBA Governor Lowe Speaks today at 19:10.

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.1997, TAKE PROFIT AT 1.1932 AND STOP LOSS AT 1.2032

EURUSD

TRADE SUGGESTION- SELL AT 1.0233, TAKE PROFIT AT 1.0122 AND STOP LOSS AT 1.0387

EURGBP

TRADE SUGGESTION- BUY AT 0.8525, TAKE PROFIT AT 0.8549 AND STOP LOSS AT 0.8508

EURJPY

TRADE SUGGESTION- BUY AT 141.060, TAKE PROFIT AT 141.349 AND STOP LOSS AT 140.767

S&P 200

TRADE SUGGESTION- SELL AT 6527.00 TAKE PROFIT AT 6464.00 AND STOP LOSS AT 6598.21

WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 99.44 TAKE PROFIT AT 97.85 AND STOP LOSS AT 100.17

GOLD

TRADE SUGGESTION- SELL AT 1711.63, TAKE PROFIT AT 1704.61 AND STOP AT 1722.31

BITCOIN

TRADE SUGGESTION- BUY AT 21847.00 TAKE PROFIT AT 22341.26 AND STOP AT 21126.81

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