Technical Analysis Report on Forex, Stocks, Commodity – 24 June 2022

Technical Analysis Report on Forex, Stocks, Commodity – 24 June 2022

Technical Analysis

WALL STREET GAINS FUELED BY PERFORMANCE OF DEFENSIVE & TECH. SHARES

Asia Pacific stocks were up on Friday morning. The Shanghai Composite is up 0.44% at 3,334.67. Overall, the Singapore MSCI is up 1.36% at 287.15. Over in Hong Kong, the Hang Seng Index is up 1.35% at 21,516. In Japan, the Nikkei 225 is up 1.15% at 26,420.00, while the Topix index is up 0.59% at 1859.50. South Korea’s Kospi is up 1.76% at 2,355.11. Australia S&P/ASX 200 up 0.30% at 6548.30.

Top News of the Day:

Wall Street’s main indexes posted solid gains on Thursday, fuelled by strong performance from defensive and tech shares that outweighed declines for economically sensitive groups as worries persisted about a potential recession.

The benchmark S&P 500 swung between positive and negative during the session, but stocks picked up steam heading into the market’s close. Benchmark U.S. Treasury yields fell to two-week lows, supporting tech and other rate-sensitive growth stocks.

Market Summary as per 23/06/2022:

European equities Thursday closing. The DAX futures contract in Germany traded down 1.76% at 12,912.59, CAC 40 futures down 0.56% at 5883.34 and the UK 100 futures contract in the U.K. down 0.97% at 7,020.46.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.64% at 30677.37. The S&P 500 up 0.95% at 3795.72 and the Nasdaq 100 up 1.47% at 11697.68, NYSE closes up 0.34% at 14402.12.

Top Market News Today:

In the Forex market, GBPUSD up 0.15% at 1.2277. The USDJPY down 0.15% at 134.744. The USDCHF up 0.05% at 0.9606. EURUSD up 0.21% at 1.0539, EUR/GBP up 0.07% at 0.8583. The USD/CNY down 0.05% at 6.6952 at the time of writing.

In the Commodity market U.S. Gold futures up 0.12% at $1,824.94. Elsewhere, Silver futures up 0.47% at $21.027 per ounce, Platinum up 0.83% at $914.50 per ounce, and Palladium up 1.76% at $1874.00.

Crude Oil up on Friday; Brent Crude Oil up 0.23% at $109.93 per barrel while U.S. West Texas Intermediate (CLc1) up 0.29% at $103.50.

In the Cryptocurrency Markets, Bitcoin at 21020.00 up 0.57%, Ethereum up 0.23% at 1146.63, Litecoin at 55.68 down 0.14%, at the time of writing.

Top Market Segment to Watch Out Today:

TOYOTA: Toyota Motor (NYSE:TM) Corp said on Thursday it would recall 2,700 of its first mass-produced electric vehicles (EVs) for the global market because of a risk the wheels could come loose.

The world’s largest automaker by sales submitted the recall of the bZ4X SUVs to Japan’s transportation ministry. Of the 2,700 vehicles, 2,200 were earmarked for Europe, 260 for the United States, 10 for Canada and 110 for Japan, the company said.

Economic News:

US: Manufacturing growth is slowing worldwide as China’s COVID-19 curbs and Russia’s invasion of Ukraine disrupt supply chains and keep inflation at the highest in years, while the growing risk of a U.S. recession poses a new threat to the global economy.

Gauges of factory activity released Thursday in Japan, Britain, the euro zone and United States all softened in June, with U.S. producers reporting the first outright drop in new orders in two years in the face of slumping consumer and business confidence.

S&P Global’s flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, dropped to 51.2 this month from a final reading of 53.6 in May and the slowest growth pace in five months. The manufacturing component dropped to 52.4, the lowest in nearly two years, from 57 in May and was notably weaker than the estimate of 56 in a Reuters poll of economists.

Eurozone: The Russian finance ministry on Thursday said it had fulfilled its obligations on two issues of dollar-denominated Eurobonds “in full” by sending 12.51 billion roubles ($234.5 million) in coupon payments to the National Settlement Depository (NSD).

The ministry said the payments were on Eurobonds maturing in 2027 and 2047.

“Thus, obligations on servicing the state securities of the Russian Federation were fulfilled by the finance ministry in full,” the ministry said in a statement.

Finance Minister Anton Siluanov said in a statement that Russia not making payments in the currency of issue did not amount to a default on its foreign debt.

President Vladimir Putin signed a decree on Wednesday to establish temporary procedures aimed at fulfilling Russia’s foreign debt obligations as the country teeters on the brink of default.

Top Economic Releases Today:

  1. U.K. Retail Sales (MoM) (May) today at 2:00 this time estimated -0.7%, previously which was 1.4%. 
  2. U.S. New Home Sales (May) today at 10:00 this time estimated 588K, previously which was 591K.
  3. GERMANY Ifo Business Climate Index (Jun) today at 4:00 this time estimated 92.90, previously which was 93.00.
  4. SPANISH GDP (QoQ) (Q1) today at 3:00 this time estimated 0.3%, previously which was 0.3%.
  5. BRAZIL Current Account (USD) (Mar) today at 8:30 previously which was -2.41B.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.2275, TAKE PROFIT AT 1.2207 AND STOP LOSS AT 1.2327

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.0541, TAKE PROFIT AT 1.0500 AND STOP LOSS AT 1.0562

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 134.745, TAKE PROFIT AT 135.383 AND STOP LOSS AT 134.449

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.9610, TAKE PROFIT AT 0.9554 AND STOP LOSS AT 0.9641

HANG SENG

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 21568.00 TAKE PROFIT AT 21940.00 AND STOP LOSS AT 21278.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 104.67 TAKE PROFIT AT 103.36 AND STOP LOSS AT 106.29

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1825.86, TAKE PROFIT AT 1806.80 AND STOP AT 1840.59

BITCOIN

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 21032.00 TAKE PROFIT AT 19716.22 AND STOP AT 21767.19

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