Technical Analysis Report on Forex, Stocks, Commodity – 27 June 2022

Technical Analysis Report on Forex, Stocks, Commodity – 27 June 2022

Technical Analysis

U.S. STOCK FUTURES TRADING LOWER DURING SUNDAY’S EVENING DEALS

Asia Pacific stocks were up on Monday morning after Wall Street rebounded. The Shanghai Composite is up 0.88% at 3,379.16. Overall, the Singapore MSCI is up 1.30% at 291.95. Over in Hong Kong, the Hang Seng Index is up 3.52% at 22,357. In Japan, the Nikkei 225 is up 1.25% at 26,810.00, while the Topix index is up 0.80% at 1880.00. South Korea’s Kospi is up 1.92% at 2,411.74. Australia S&P/ASX 200 up 1.96% at 6706.60.

Top News of the Day:

U.S. stock futures were trading lower during Sunday’s evening deals, easing from a major rebound last week as investors monitored growing recession fears which were accompanied by a pullback in bond yields, facilitating gains among risk-sensitive sectors. However, despite last week’s bounce, Wall Street is preparing to post the worst first half for stocks in decades.

Market Summary as per 24/06/2022:

European equities Friday closing. The DAX futures contract in Germany traded up 1.59% at 13,118.13, CAC 40 futures up 3.23% at 6073.36 and the UK 100 futures contract in the U.K. up 2.68% at 7,208.80.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed up 2.68% at 31500.69. The S&P 500 up 3.06% at 3911.73 and the Nasdaq 100 up 3.49% at 12105.85, NYSE closes up 2.84% at 14811.54.

Top Market News Today:

In the Forex market, GBPUSD up 0.05% at 1.2280. The USDJPY down 0.33% at 134.720. The USDCHF down 0.12% at 0.9571. EURUSD up 0.07% at 1.0563, EUR/GBP up 0.11% at 0.8602. The USD/CNY down 0.03% at 6.6856 at the time of writing.

In the Commodity market U.S. Gold futures up 0.47% at $1,834.60. Elsewhere, Silver futures up 1.18% at $21.360 per ounce, Platinum up 0.83% at $915.00 per ounce, and Palladium up 0.98% at $1897.00.

Crude Oil up on Monday; Brent Crude Oil up 0.63% at $113.16 per barrel while U.S. West Texas Intermediate (CLc1) up 0.32% at $106.38.

In the Cryptocurrency Markets, Bitcoin at 21205.00 down 0.24%, Ethereum up 2.12% at 1222.70, Litecoin at 58.01 up 2.31%, at the time of writing.

Top Market Segment to Watch Out Today:

GOLD: Gold was up on Monday morning in Asia as some countries from the Group of Seven (G-7) plan to ban bullion imports from Russia, which might tighten supplies.

Gold futures were up 0.37% to $1,837.05 by 11:59 PM ET (3:59 AM GMT). The dollar, which normally moves inversely to gold, on Monday morning.

Economic News:

US: U.S. President Joe Biden told allies “We have to stay together” against Russia on Sunday as G7 leaders gathered for a summit dominated by war in Ukraine and its impact on food and energy supplies and the global economy.

At the start of the meeting in the Bavarian Alps, four of the Group of Seven rich nations moved to ban imports of Russian gold to tighten the sanctions squeeze on Moscow and cut off its means of financing the invasion of Ukraine.

But it was not clear whether there was G7 consensus on the plan, with European Council President Charles Michel saying the issue would need to be handled carefully and discussed further.

Britain, the United States, Japan and Canada agreed the ban on new Russian gold imports, the British government said on Sunday.

Eurozone: British Prime Minister Boris Johnson’s government will press ahead on Monday with legislation to scrap rules on post-Brexit trade with Northern Ireland, setting up further clashes with the European Union.

The legislation, which would unilaterally replace parts of the post-Brexit deal that was agreed in 2020 by Britain and the EU, is due to be sent back to parliament’s lower house for a so-called second reading.

Foreign minister Liz Truss said London’s priority was to protect a 1998 peace deal that Ireland, the United States and other countries have said could be put at risk by replacing parts of the Northern Ireland Protocol.

“This legislation will fix the problems the Protocol has created, ensuring that goods can flow freely within the UK, while avoiding a hard border and safeguarding the EU Single Market,” Truss said in a statement on Sunday.

Top Economic Releases Today:

  1. U.S. Pending Home Sales (MoM) (May) today at 10:00 this time estimated -4.0%, previously which was -3.9%. 
  2. U.S. Core Durable Goods Orders (MoM) (May) today at 8:30 this time estimated 0.3%, previously which was 0.4%.
  3. GERMANY Retail Sales (MoM) (May) today at 2:00 this time estimated -0.20%, previously which was -5.40%.
  4. JAPAN 2-Year JGB Auction today at 23:30 previously which was -0.058%.
  5. EURO ZONE ECB President Lagarde Speaks today at 14:30.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.2283, TAKE PROFIT AT 1.2202 AND STOP LOSS AT 1.2321

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.0565, TAKE PROFIT AT 1.0591 AND STOP LOSS AT 1.0543

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.8598, TAKE PROFIT AT 0.8608 AND STOP LOSS AT 0.8586

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 142.400, TAKE PROFIT AT 144.203 AND STOP LOSS AT 141.354

EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3552.00 TAKE PROFIT AT 3618.00 AND STOP LOSS AT 3517.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 107.62 TAKE PROFIT AT 104.77 AND STOP LOSS AT 109.17

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1835.85, TAKE PROFIT AT 1825.13 AND STOP AT 1843.56

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1208.60 TAKE PROFIT AT 1266.77 AND STOP AT 1172.51

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