Technical Analysis Report – 22 March 2021

Technical Analysis Report – 22 March 2021

Asia Pacific stocks were mixed Monday morning. The Shanghai composite is up 1.01% at 3,439.01. Overall, the Singapore MSCI up 0.06% at 353.60. Over in Hong Kong, the Hang Seng Index up 0.02% to 28,939. In Japan, the Nikkei 225 down 1.59% at 29,020, while the Topix index is down 0.15% at 1980.5. South Korea’s Kospi down 0.10% to 3036.43. Australia S&P/ASX 200 up 0.66% at 6752.5.

European equities Friday closing. The DAX futures contract in Germany traded 1.05% down at 14621.00, CAC 40 futures down 1.07% at 5998.0 and the UK 100 futures contract in the U.K. down 1.05% at 6,708.7.

In U.S. on Wall Street, the Dow Jones Industrial Average closed flat at 32628.0, the S&P 500 down 0.06% to 3913.1 and the Nasdaq 100 up 0.61% at 12867.0, NYSE closes at 15562.25 down 0.17%.

In the Forex market, GBPUSD down 0.04% at 1.38539. The USDJPY down 0.08% at 108.765. The USDCHF up 0.19% at 0.92995. EURUSD down 0.06% at 1.18940, EUR/GBP up 0.10% at 0.85856. The USD/CNY flat at 6.5071, at the time of writing.

In the commodity market U.S Gold futures down 0.63% at $1,733.84. Elsewhere, Silver futures down 2.55% to $25.578 per ounce, Platinum down 1.16% at $1182.45 per ounce, and Palladium down 0.32% to $2,627.50.

Crude Oil mix on Monday; Brent crude oil down 0.54% to $64.16 barrel while U.S. West Texas Intermediate (CLc1) is up 0.55% at $63.76.

In the Cryptocurrency Markets, BTCUSD at 57711.80 up 0.58%, Ethereum at 1792.16 up 0.48%, Litecoin at 195.64 up 0.13%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

FEDEX Corp. up 6.098% at $279.58, FACEBOOK up 4.124% at $290.11, MICROCHIP Tech. up 3.141% at $150.06, VISA Inc. down 6.236% at $206.9, NIKE Inc. down 3.967% at $137.49, NET EASE Inc. at 3.886% at $109.07, MARVELL Tech. up 3.183% at $47.00, BAIDU Inc. down 2.787% at $257.47.

Economic news:

US: Inflation risks are mounting in the U.S. after unprecedented monetary and fiscal stimulus, according to economists who are also growing increasingly concerned about a corresponding surge in government debt.

More than 60% of respondents polled by the National Association for Business Economics say inflation is a greater risk now than it has been in the past two decades, according to a survey conducted Feb. 22-March 5.

At the same time, nearly 90% say they are concerned about the trajectory of public debt.

Earlier this month lawmakers effectively added to the U.S. budget deficit when they enacted a new $1.9 trillion economic stimulus measure. While parts of the economy continue to improve amid accelerating vaccinations and as states ease pandemic-era business restrictions, high unemployment persists and the Federal Reserve has kept benchmark interest rates low.

Eurozone: The deep anger among some pro-British unionists in Northern Ireland over post-Brexit trade barriers that cut it off from the rest of the United Kingdom is emblazoned along the road from Belfast to the mainly Protestant port town of Larne.

Posters demanding “No Irish Sea Border”, “Scrap NI Protocol” and “EU Hands Off Ulster” cover much of the 35-km (20-mile) route, their opposition to the new trading arrangements emphasised by the flying of Britain’s Union Jack flag every few lampposts.

A dispute between Britain and the European Union over the implementation of the so-called Northern Ireland protocol – designed to prevent a “hard” Irish border – has raised fears that the outrage it has caused among some caught in the middle could spill over into violent protest in the coming months.

Important Data: US Existing Home Sales (Feb) today at 10:00 this time estimated 6.49M, previously which was 6.69M. US Existing Home Sales (MoM) (Feb) today at 10:00 this time estimated -3.0%, previously which was 0.6%. German 12-Month Bubill Auction today at 6:40 previously which was 0.628%. US FOMC Member Bowman Speaks today at 19:15.

TECHNICAL SUMMARY

GBPUSD

GBPUSD Technical Analysis
GBPUSD Technical Analysis

TRADE SUGGESTION- SELL AT 1.38510, TAKE PROFIT AT 1.38034 AND STOP LOSS AT 1.38877

EURUSD

EURUSD Technical Analysis
EURUSD Technical Analysis

TRADE SUGGESTION- SELL AT 1.18815, TAKE PROFIT AT 1.18583 AND STOP LOSS AT 1.19065

GBPJPY

GBPJPY Technical Analysis
GBPJPY Technical Analysis

TRADE SUGGESTION- SELL AT 150.512, TAKE PROFIT AT 149.648 AND STOP LOSS AT 151.166

CHFJPY

CHFJPY Technical Analysis
CHFJPY Technical Analysis

TRADE SUGGESTION- SELL AT 116.826, TAKE PROFIT AT 116.607 AND STOP LOSS AT 117.054

FTSE 100

FTSE 100 Technical Analysis
FTSE 100 Technical Analysis

TRADE SUGGESTION- BUY AT 6716.1 TAKE PROFIT AT 6754.0 AND STOP LOSS AT 6695.8

WTI CRUDE OIL

WTI CRUDE OIL Technical Analysis
WTI CRUDE OIL Technical Analysis

TRADE SUGGESTION- SELL AT 60.44 TAKE PROFIT AT 59.19 AND STOP LOSS AT 61.24

GOLD

GOLD Technical Analysis
GOLD Technical Analysis

TRADE SUGGESTION- SELL AT 1729.29, TAKE PROFIT AT 1723.67 AND STOP AT 1739.90

BTC USD

BTC USD Technical Analysis
BTC USD Technical Analysis

TRADE SUGGESTION- BUY AT 57639 TAKE PROFIT AT 59119 AND STOP AT 56515

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