Technical Analysis Report – 19 March 2021

Technical Analysis Report – 19 March 2021

Asia Pacific stocks were down Friday morning. The Shanghai composite is down 2.10% at 3,390.66. Overall, the Singapore MSCI up 0.04% at 354.05. Over in Hong Kong, the Hang Seng Index down 2.17% to 28,732. In Japan, the Nikkei 225 down 1.53% at 29,600, while the Topix index is up 0.33% at 1993.5. South Korea’s Kospi down 0.81% to 3041.31. Australia S&P/ASX 200 down 0.56% at 6708.2.

European equities Thursday closing. The DAX futures contract in Germany traded 1.23% up at 14775.52, CAC 40 futures up 0.13% at 6062.8 and the UK 100 futures contract in the U.K. up 0.25% at 6,779.7.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.46% down at 32862.3, the S&P 500 down 1.48% to 3915.5 and the Nasdaq 100 down 0.38% at 12758.6, NYSE closes at 15589.07 down 0.90%.

In the Forex market, GBPUSD down 0.07% at 1.3915. The USDJPY down 0.06% at 108.809. The USDCHF down 0.03% at 0.92668. EURUSD up 0.04% at 1.19194, EUR/GBP up 0.16% at 0.85648. The USD/CNY up 0.07% at 6.5101, at the time of writing.

In the commodity market U.S Gold futures up 0.35% at $1,741.70. Elsewhere, Silver futures up 0.31% to $26.104 per ounce, Platinum down 0.51% at $1203.40 per ounce, and Palladium down 1.88% to $2,631.00.

Crude Oil down on Friday; Brent crude oil down 0.11% to $62.82 barrel while U.S. West Texas Intermediate (CLc1) is down 2.15% at $63.41.

In the Cryptocurrency Markets, BTCUSD at 58164.70 up 0.90%, Ethereum at 1799.54 up 1.32%, Litecoin at 201.94 up 1.19%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

METLIFE Inc. up 2.677% at $61.76, TESLA Inc down 6.932% at $653.16, PAY PAL HOLDINGS down 5.194% at $238.41, ZOOM VIDEO Comm. down 6.03% at $316.32, MICRON Tech. at 5.415% at $145.49, HOME DEPOT Inc. up 1.118% at $283.16, 3M Co. up 1.434% at $191.

Economic news:

US: Payments to U.S. states, municipalities, territories and tribal governments under President Joe Biden’s stimulus act will take about 60 days to go out as the U.S. Treasury writes rules on how the funds can be used, Treasury officials said on Thursday.

A Treasury official told reporters on a conference call that the department would consult with state and local governments in coming weeks on the program, which provides up to $350 billion to close budget gaps opened up by the coronavirus pandemic.

The official, asked about a lawsuit filed by Ohio Attorney General Dave Yost challenging a provision that prohibits coronavirus funds from being used to subsidize tax cuts, said it was not new for Congress to establish reasonable conditions for the use of federal funds provided to states.

Eurozone: Britain’s Serious Fraud Office (SFO) on Thursday said it had closed its four-year bribery and corruption investigation into the UK subsidiaries of KBR (NYSE:KBR) Inc, a U.S.-listed engineering, procurement and construction company.

“The evidence in this case did not meet the evidential test as defined in the code for crown prosecutors,” the investigator and prosecutor said in a brief statement.

KBR, which has said previously that it was cooperating with investigators, was not immediately available for comment.

The decision is the latest in a string of lengthy, major investigations shut by SFO head Lisa Osofsky. Inquiries into British American Tobacco (NYSE:BTI), aero engine maker Rolls-Royce (OTC:RYCEY) and drugs company GlaxoSmithKline (NYSE:GSK) have also been dropped over the past two years.

Important Data: German PPI (MoM) (Feb) today at 3:00 this time estimated 0.7%, previously which was 1.4%. RUSSIA Interest Rate Decision today at 6:30 previously which was 4.25%. CANADA Core Retail Sales (MoM) (Jan) today at 8:30 this time estimated -2.6%, previously which was -4.1%. CANADA Retail Sales (MoM) (Jan) today at 8:30 this time estimated -3.0%, previously which was

-3.4%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.39845, TAKE PROFIT AT 1.40 AND STOP LOSS AT 1.39438

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.19201, TAKE PROFIT AT 1.18786 AND STOP LOSS AT 1.19636

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.85601, TAKE PROFIT AT 0.85355 AND STOP LOSS AT 0.85831

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 129.759, TAKE PROFIT AT 129.943 AND STOP LOSS AT 129.465

DOW JONES 

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 32927.00 TAKE PROFIT AT 32977 AND STOP LOSS AT  32880

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 60.30 TAKE PROFIT AT 59.83 AND STOP LOSS AT 60.68

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1743.14, TAKE PROFIT AT 1754.11 AND STOP AT 1726.05

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 202.45 TAKE PROFIT AT 212.46 AND STOP AT 195.52

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