Technical Analysis Report – 22 January 2021

Technical Analysis Report – 22 January 2021

Asia Pacific stocks were mostly down on Friday morning. The Shanghai composite is down 0.59% at 3,598.70. Overall, the Singapore MSCI down 0.87% at 340.75. Over in Hong Kong, the Hang Seng Index down 1.33% to 29,516. In Japan, the Nikkei 225 down 0.28% at 28,650, while the Topix index is down 0.05% at 1855.5. South Korea’s Kospi up 0.50% to 3143.93. Australia S&P/ASX 200 down 0.34% at 6800.4.

European equities Thursday closing. The DAX futures contract in Germany traded 0.11% down at 13906.67, CAC 40 futures down 0.67% at 5590.8 and the UK 100 futures contract in the U.K. down 0.37% at 6,715.4.

In U.S. on Wall Street, the Dow Jones Industrial Average closed flat at 31176.0 the S&P 500 up 0.03% to 3853.1 and the Nasdaq 100 down 0.38% at 13360.0, NYSE closes at 15019.04 down 0.52%.

In the Forex market, GBPUSD down 0.25% at 1.36943. The USDJPY up 0.16% at 103.643. The USDCHF up 0.04% at 0.88541. EURUSD up 0.03% at 1.21648, EUR/GBP up 0.28% at 0.88825. The USD/CNY up 0.20% at 6.4726, at the time of writing.

In the commodity market U.S. Gold futures down 0.57% at $1,858.63. Elsewhere, Silver futures down 1.63% to $25.441 per ounce, Platinum down 1.58% at $1106.68 per ounce, and Palladium down 0.19% to $2,365.00.

Crude Oil down on Friday; Brent crude oil down 0.98% to $55.45 barrel while U.S. West Texas Intermediate (CLc1) is down 0.10% at $52.36.

In the Cryptocurrency Markets, BTCUSD at 31975.17 up 3.64%, Ethereum at 1177.14 up 5.94%, Litecoin at 137.07 up 5.37%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

INTEL Corp. up 6.46% at $62.46, FORD Motor Co. up 6.169% at $11.53, NVIDIA Corp. up 3.754% to $554.7, APPLE Inc. up 3.666% to $136.87, WESTERN DIGITAL up 3.261% to $53.51, UNITED AIRLINES down 5.733% at $42.59.

Economic news:

US: President Joe Biden’s top economic adviser, Brian Deese, plans to meet with a bipartisan group of lawmakers in coming days in an appeal for the administration’s $1.9 trillion Covid-19 relief plan, according to aides familiar with the matter.

Deese, head of the White House National Economic Council, expects to speak with the group in the next week or so, the people said, asking not to be named as the plans aren’t public. Timing of the meeting hasn’t yet been finalized.

Biden’s plan has already run into headwinds. GOP lawmakers on Tuesday dismissed the argument by Janet Yellen, who’s awaiting Senate confirmation as Treasury secretary, that historically low interest rates mean major deficit spending isn’t a problem right now.

Even moderate GOP senators expressed scepticism about the need for another giant package so soon after the $900 billion spending bill enacted last month. Mitt Romney of Utah and Lisa Murkowski of Alaska, who were key members of a bipartisan group that helped get that last package passed, on Wednesday declined to embrace the new administration’s push

Eurozone: The U.K.’s third coronavirus lockdown looks set to endure as the government warned it’s too early to contemplate easing restrictions.

Prime Minister Boris Johnson and Home Secretary Priti Patel did not repeat previous assurances that the U.K. will be getting back to normal by April, even as the mass vaccination program continued to expand to reach 5 million people.

Instead, they toughened up measures to enforce the current restrictions, amid concerns that too many people are still flouting the rules, making it harder to control the spread of the disease.

New police fines of 800 pounds ($1,097) will be imposed on people caught attending house parties, Patel told a press conference in London. When asked if the public should book summer holidays, she said the advice now is to stay home.

“It’s far too early to say or even speculate when we can lift restrictions,” Patel said. “This country remains in the grip of a pandemic.”

Important Data: Retail Sales (MoM) (Dec) today at 2:00 this time estimated 1.2%, previously which was -3.8%. German Manufacturing PMI (Jan) today at 8:30 this time estimated 57.5, previously which was 58.3. US Crude Oil Inventories today at 11:00 this time estimated -1.167M, previously which was -3.247M. US Existing Home Sales (Dec) today at 10:00 previously which was 6.69M.

TECHNICAL SUMMARY

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 103.607, TAKE PROFIT AT 103.501 AND STOP AT 103.741

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.21636, TAKE PROFIT AT 1.21412 AND STOP LOSS AT 1.21865

USDMXN

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 19.81267, TAKE PROFIT AT 19.69150 AND STOP LOSS AT 19.89145

CADCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.69805, TAKE PROFIT AT 0.69936 AND STOP AT 0.69708

FTSE 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 6732.6 TAKE PROFIT AT 6770.4 AND STOP AT 6700

CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 52.48 TAKE PROFIT AT 51.64 AND STOP AT 53.28

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1861.32, TAKE PROFIT AT 1855.14 AND STOP AT 1872.70

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 135.52 TAKE PROFIT AT 132.38 AND STOP AT 138.82

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