Technical Analysis Report – 29 January 2021

Technical Analysis Report – 29 January 2021

Asian stock markets recovered on Friday. The Shanghai composite is down 0.68% at 3,480.76. Overall, the Singapore MSCI down 0.32% at 329.20. Over in Hong Kong, the Hang Seng Index down 0.90% to 28,296. In Japan, the Nikkei 225 down 1.28% at 27,680, while the Topix index is down 0.90% at 1811.0. South Korea’s Kospi down 2.07% to 3005.28. Australia S&P/ASX 200 down 0.64% at 6607.4.

European equities Thursday closing. The DAX futures contract in Germany traded 0.33% up at 13665.95, CAC 40 futures up 0.93% at 5510.5 and the UK 100 futures contract in the U.K. down 0.63% at 6,526.2.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.99% down at 30603.4 the S&P 500 up 0.98% to 3787.4 and the Nasdaq 100 up 1.24% at 13005.3, NYSE closes at 14669.52 up 1.25%.

In the Forex market, GBPUSD down 0.11% at 1.37020. The USDJPY up 0.28% at 104.484. The USDCHF up 0.11% at 0.88951. EURUSD down 0.18% at 1.20990, EUR/GBP flat at 0.88301. The USD/CNY up 0.16% at 6.4592, at the time of writing.

In the commodity market U.S. Gold futures up 0.23% at $1,846.24. Elsewhere, Silver futures down 0.85% to $26.264 per ounce, Platinum up 0.27% at $1070.00 per ounce, and Palladium up 1.11% to $2,364.

Crude Oil mix on Friday; Brent crude oil up 0.23% to $55.46 barrel while U.S. West Texas Intermediate (CLc1) is down 0.89% at $53.34.

In the Cryptocurrency Markets, BTCUSD at 32747.14 down 2.25%, Ethereum at 1299.0 down 2.42%, Litecoin at 133.52 down 0.06%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TWITTER Inc. up 7.014% at $51.57, WHIRLPOOL Corp. down 8.38% at $194.6, SEAGATE Tech. down 7.069% to $66.65, DISCOVERY Inc. down 6.497% to $41.02, INTEL Corp. up 4.618% to $56.065, MICRON Tech. up 4.395% at $78.39.

Economic news:

US: U.S. House of Representatives’ Speaker Nancy Pelosi on Thursday said the House will take its first steps next week toward passing a new coronavirus aid bill when it debates budget rules that would allow Democrats to advance a bill in the Senate without Republican support.

“We’re going to bring a budget resolution to the floor next week,” Pelosi told reporters. “By the end of the week, we’ll be finished with the budget resolution, which will be about reconciliation, if needed.”

Eurozone: The European Central Bank is ready to use all the tools necessary to stimulate inflation, and is keeping a close eye on the euro’s appreciation, Governing Council member Olli Rehn said.

“We are certainly ready to use and adjust all our instruments as appropriate,” the Finnish governor said in an interview with Bloomberg Television. “We are closely monitoring developments in the exchange rate, especially regarding the inflation outlook.”

Rehn noted that several of his Governing Council colleagues, including Dutch governor Klaas Knot, have recently raised the possibility of cutting interest rate.

Important Data: German Unemployment Change (Jan) today at 3:55 this time estimated 6K, previously which was -37K. German GDP (QoQ) (Q4) today at 4:00 previously which was 8.5%. CANADA GDP (MoM) (Nov) today at 8:30 this time estimated 0.4%, previously which was 0.4%. Pending Home Sales (MoM) (Dec) today at 10:00 previously which was at -2.6%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.37025, TAKE PROFIT AT 1.37439 AND STOP LOSS AT 1.36799

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.20991, TAKE PROFIT AT 1.20742 AND STOP LOSS AT 1.21225

CADCHF

Technical Analysis

TRADE SUGGESTION- SELL AT 0.69113, TAKE PROFIT AT 0.6900 AND STOP LOSS AT 0.69230

USDINR

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 72.9249, TAKE PROFIT AT 72.8627 AND STOP LOSS AT 73.0179

NIKKEI 225

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 27654 TAKE PROFIT AT 27451 AND STOP LOSS AT 27909

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 52.27 TAKE PROFIT AT 51.76 AND STOP LOSS AT 52.72

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1850.12, TAKE PROFIT AT 1856.64 AND STOP AT 1842.84

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 134.58 TAKE PROFIT AT 137.23 AND STOP AT 131.98

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