Technical Analysis Report on Forex, Stocks, Crypto – 20 June

Technical Analysis Report on Forex, Stocks, Crypto – 20 June

U.S. STOCK FUTURES ROSE ON SUNDAY’S EVENING DEAL

Asia-Pacific stocks were mostly down on Monday morning. The Shanghai Composite is down 0.06% at 3,314.50. Overall, the Singapore MSCI is up 0.23% at 282.35. Over in Hong Kong, the Hang Seng Index is up 0.15% at 21,026. In Japan, the Nikkei 225 is flat at 25,780.00, while the Topix index is down 0.11% at 1819.50. South Korea’s Kospi is down 2.04% at 2391.03. Australia S&P/ASX 200 down 0.64% at 6433.40.

Top News of the Day:

U.S. stock futures rose modestly during Sunday’s evening deals, after major benchmark averages posted their third consecutive weekly declines, finishing at 16-month lows amid growing concerns that the Federal Reserve’s aggressive interest rate hikes will push the economy into a recession.

Market Summary as per 17/06/2022:

European equities Friday closing. The DAX futures contract in Germany traded up 0.67% at 13,126.26, CAC 40 futures down 0.06% at 5882.66 and the UK 100 futures contract in the U.K. down 0.41% at 7,016.26.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.13% at 29888.79. The S&P 500 up 0.22% at 3674.85 and the Nasdaq 100 up 1.24% at 11265.99, NYSE closes down 0.32% at 14097.04.

Top Market News Today:

In the Forex market, GBPUSD up 0.25% at 1.2245. The USDJPY flat at 134.847. The USDCHF down 0.40% at 0.9656. EURUSD up 0.33% at 1.0528, EUR/GBP up 0.20% at 0.8598. The USD/CNY down 0.54% at 6.6798 at the time of writing.

In the Commodity market U.S. Gold futures up 0.20% at $1,842.99. Elsewhere, Silver futures down 0.09% at $21.673 per ounce, Platinum up 0.27% at $935.00 per ounce, and Palladium up 2.09% at $1853.00.

Crude Oil mix on Monday; Brent Crude Oil up 0.25% at $113.45 per barrel while U.S. West Texas Intermediate (CLc1) down 0.31% at $108.13.

In the Cryptocurrency Markets, Bitcoin at 20090.00 down 1.86%, Ethereum down 4.04% at 1081.78, Litecoin at 52.23 down 3.83%, at the time of writing.

Top Market Segment to Watch Out Today:

PFIZER: U.S. healthcare giant Pfizer (NYSE:PFE) has agreed to invest 90.5 million euros ($95.24 million) to buy an 8.1% percent stake in French vaccines company, as the companies announced developments in their partnership to tackle the Lyme disease.

Pfizer will buy the stake in Valneva, which is also working on its COVID-19 vaccine, at a price of 9.49 euros per share, via a reserved capital increase.

Economic News:

US: President Joe Biden’s administration is reviewing the removal of some tariffs on China and a possible pause on federal gas tax as the United States struggles to tackle soaring gasoline prices and inflation, two top officials said on Sunday.

U.S. Treasury Secretary Janet Yellen said some tariffs on China inherited from the administration of former President Donald Trump served “no strategic purpose” and added that Biden was considering removing them as a way to bring down inflation.

Energy Secretary Jennifer Granholm said the president was also evaluating a pause on federal gas tax to bring down prices, telling CNN that such a move was “not off the table”.

The comments come as the Biden administration struggles to tackle record high gasoline prices and inflation, now at its highest in 40 years.

Eurozone: Britain’s company directors should sign up to a code of conduct to improve behaviour in boardrooms after high-profile corporate collapses, such as builder Carillion and retailer BHS, an industry body proposed on Sunday.

The Institute of Directors, which has about 20,000 members, proposed a voluntary nine-point code covering ethics, diversity, competence and lawfulness. It would also include a commitment to cut a company’s carbon footprint in reasonable time.

The plan would supplement the existing corporate governance code administered by regulator, the Financial Reporting Council (FRC), and general legal duties under UK company law.

“There is a risk that each new corporate scandal or collapse will renew pressure on government to impose prescriptive regulatory obligations relating to directorship,” said Roger Barker, the IoD’s director of policy and governance.

“The IoD’s members are strongly supportive of the introduction of a code of conduct for directors – either on a mandatory or voluntary basis.”

Top Economic Releases Today:

  1. GERMANY PPI (MoM) (May) today at 2:00 this time estimated 1.5%, previously which was 2.8%. 
  2. NEW ZEALAND Westpac Consumer Sentiment today at 17:00 previously which was 92.1.
  3. EURO ZONE Construction Output (MoM) (Apr) today at 5:00 previously which was 1.06%.
  4. AUSTRALIA RBA Meeting Minutes today at 21:30.
  5. JAPAN 5-Year JGB Auction today at 23:35 previously which was 0.183%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.2230, TAKE PROFIT AT 1.2203 AND STOP LOSS AT 1.2259

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.0521, TAKE PROFIT AT 1.0493 AND STOP LOSS AT 1.0641

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 164.830, TAKE PROFIT AT 165.282 AND STOP LOSS AT 164.449

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 139.256, TAKE PROFIT AT 139.818 AND STOP LOSS AT 138.977

FTSE 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 6966.20 TAKE PROFIT AT 6934.30 AND STOP LOSS AT 6996.10

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 108.11 TAKE PROFIT AT 106.24 AND STOP LOSS AT 109.15

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1839.62, TAKE PROFIT AT 1833.61 AND STOP AT 1846.95

LITECOIN

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 50.94 TAKE PROFIT AT 46.72 AND STOP AT 59.26

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