Technical Analysis Report, Economic News & Price Chart – 28 April 2022

Technical Analysis Report, Economic News & Price Chart – 28 April 2022

Technical Analysis

EURO DROPPED TO 2017 LEVEL

Asia Pacific stocks were mostly up on Thursday morning. The Shanghai Composite is up 0.25% at 2,965.63. Overall, the Singapore MSCI is up 0.06% at 307.90. Over in Hong Kong, the Hang Seng Index is up 0.13% at 19,957. In Japan, the Nikkei 225 is up 0.30% at 26,470.00, while the Topix index is up 0.67% at 1873.50. South Korea’s Kospi is up 0.31% at 2647.35. Australia S&P/ASX 200 up 1.02% at 7335.40.

Top News of the Day:

Key U.S. equity indexes ended higher after choppy trade on Wednesday on a boost from strong earnings from Microsoft and Visa, as commodity stocks lifted European shares to their first gain in four sessions.

The euro dropped to its weakest since 2017 after Russia halted gas supplies to Bulgaria and Poland, and investors fretted more about the region’s economy.

Market Summary as per 27/04/2022:

European equities Wednesday closing. The DAX futures contract in Germany traded up 0.27% at 13,793.94, CAC 40 futures up 0.48% at 6445.27 and the UK 100 futures contract in the U.K. up 0.53% at 7,425.62.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.19% at 33301.94. The S&P 500 up 0.21% at 4183.97 and the Nasdaq 100 down 0.05% at 13003.36, NYSE closes up 0.30% at 15741.81.

Top Market News Today:

In the Forex market, GBPUSD up 0.01% at 1.2540. The USDJPY up 0.19% at 128.658. The USDCHF up 0.01% at 0.9690. EURUSD down 0.09% at 1.0545, EUR/GBP down 0.08% at 0.8408. The USD/CNY up 0.11% at 6.5675 at the time of writing.

In the Commodity market U.S. Gold futures down 0.15% at $1,882.90. Elsewhere, Silver futures up 0.14% at $23.294 per ounce, Platinum down 0.49% at $913.00 per ounce, and Palladium up 1.06% at $2234.50.

Crude Oil down on Thursday; Brent crude oil down 0.98% at $104.16 per barrel while U.S. West Texas Intermediate (CLc1) down 0.81% at $100.505.

In the Cryptocurrency Markets, Bitcoin at 39450.00 up 1.41%, Ethereum up 0.72% at 2878.00, Litecoin at 100.01 down 0.49%, at the time of writing.

Top Market Segment to Watch Out Today:

META: Meta Platforms (FB) shares rose more than 12% after-hours following the company’s reported Q1 results, with EPS of $2.72 coming in better than the consensus estimates of $2.56. Revenue increased 7% year-over-year to $27.91 billion, compared to the consensus estimate of $28.2 billion.

Family daily active people (DAP) were 2.87 billion on average for March 2022, while Family monthly active people (MAP) were 3.64 billion as of March 31, 2022, both increasing 6% year-over-year.

Economic News:

US: U.S. data due out Thursday is expected to show slower economic growth in the first quarter, mainly due to a less robust jump in business inventories, but the overall economy remains strong, a senior Biden administration official told Reuters on Wednesday.

The Commerce Department’s advance reading of first-quarter gross domestic product, due out at 8:30 a.m. ET (1230 GMT), should not be interpreted as a sign that the economy is headed in a bad direction, the official said.

Economists polled by Reuters expect growth to have slowed to an annualized rate of 1.1% in the first three months of 2022 from a 6.9% rate in the fourth quarter of 2021.

Eurozone: The European Commission proposed on Wednesday a one-year suspension of import duties on all Ukrainian goods not covered by an existing free trade deal to help the country’s economy during the war with Russia.

The measures will apply in particular to fruit and vegetables, subject to minimum price requirements, agricultural products facing quotas, and certain industrial goods, tariffs on which were only due to be phased out by the end of 2022.

That phase-out, set out in the 2016 EU-Ukraine free trade agreement, applies to fertilisers, aluminium products and cars.

The European Union will also exempt Ukraine from safeguard measures that limit steel imports, and lift anti-dumping tariffs the EU currently imposes on Ukrainian steel tubes, hot-rolled flat steel products and ironing boards.

Top Economic Releases Today:

  1. GERMANY CPI (MoM) (Apr) today at 8:00 this time estimated 0.6%, previously which was 2.5%. 
  2. U.S. GDP (QoQ) (Q1) today at 8:30 this time estimated 1.1%, previously which was 6.9%.
  3. AUSTRALIA PPI (QoQ) (Q1) today at 21:30 previously which was 1.3%.
  4. JAPAN BoJ Press Conference today.
  5. U.S. Initial Jobless Claims today at 8:30 this time estimated 180K, previously which was 184K.

TECHNICAL SUMMARY

GBPUSD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.2536, TAKE PROFIT AT 1.2524 AND STOP LOSS AT 1.2562

EURUSD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.0542, TAKE PROFIT AT 1.0537 AND STOP LOSS AT 1.0553

EURGBP Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.8410, TAKE PROFIT AT 0.8434 AND STOP LOSS AT 0.8384

EURJPY Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 135.671, TAKE PROFIT AT 135.092 AND STOP LOSS AT 136.438

HANG SENG Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 20077.00 TAKE PROFIT AT 19603.00 AND STOP LOSS AT 20947.00

WTI CRUDE OIL Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 101.46 TAKE PROFIT AT 103.32 AND STOP LOSS AT 99.78

GOLD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1883.19, TAKE PROFIT AT 1850.52 AND STOP AT 1903.46

LITECOIN USD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 98.4250 TAKE PROFIT AT 94.7716 AND STOP AT 103.6697

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