Technical Analysis Report on Forex, Stocks, Crypto and Gold – 10 June

Technical Analysis Report on Forex, Stocks, Crypto and Gold – 10 June

Technical Analysis Report

U.S. STOCKS SOLD OFF SHARPLY AHEAD OF DATA ON FRIDAY

Asia-Pacific stocks were mostly down on Friday morning. The Shanghai Composite is up 0.99% at 3,270.93. Overall, the Singapore MSCI is down 1.59% at 294.50. Over in Hong Kong, the Hang Seng Index is down 0.09% at 21,772. In Japan, the Nikkei 225 is down 1.77% at 27,800.00, while the Topix index is down 1.30% at 1941.50. South Korea’s Kospi is down 1.10% at 2596.40. Australia S&P/ASX 200 down 1.10% at 6942.60.

Top News of the Day:

U.S. stocks sold off sharply Thursday as investor anxiety heightened ahead of data on Friday that is expected to show consumer prices remained elevated in May.

Selling picked up toward the end of the session. Mega-cap growth stocks led the drop, with Apple Inc (NASDAQ:AAPL) and Amazon.com Inc (NASDAQ:AMZN) falling 3.6% and 4.2%, respectively, and putting the most pressure on the S&P 500 and the Nasdaq.

Market Summary as per 09/06/2022:

European equities Thursday closing. The DAX futures contract in Germany traded down 1.71% at 14,198.80, CAC 40 futures down 1.40% at 6358.47 and the UK 100 futures contract in the U.K. up 0.04% at 7,428.6.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.94% at 32272.80. The S&P 500 down 2.38% at 4017.81 and the Nasdaq 100 down 2.74% at 12269.78, NYSE closes down 2.34% at 15472.45.

Top Market News Today:

In the Forex market, GBPUSD up 0.10% at 1.2502. The USDJPY down 0.41% at 133.763. The USDCHF down 0.09% at 0.9792. EURUSD up 0.15% at 1.0630, EUR/GBP up 0.10% at 0.8503. The USD/CNY down 0.12% at 6.6844 at the time of writing.

In the Commodity market U.S. Gold futures down 0.14% at $1,844.93. Elsewhere, Silver futures up 0.02% at $21.695 per ounce, Platinum down 0.05% at $970.50 per ounce, and Palladium up 0.86% at $1939.00.

Crude Oil down on Friday; Brent crude oil down 0.22% at $122.58 per barrel while U.S. West Texas Intermediate (CLc1) down 0.18% at $119.16.

In the Cryptocurrency Markets, Bitcoin at 30100.00 up 0.52%, Ethereum up 0.28% at 1792.22, Litecoin at 59.98 down 0.22%, at the time of writing.

Top Market Segment to Watch Out Today:

WALT DISNEY: Walt Disney Co Chief Executive Bob Chapek announced a major leadership shift on Thursday, promoting Dana Walden to chairman of general entertainment content as the company works to build its streaming television efforts.

Economic News:

US: U.S. household wealth declined for the first time in two years in the first quarter of 2022 as a drop in the stock market overwhelmed continued gains in home values, a Federal Reserve report on Thursday showed.

Household net worth edged down to $149.3 trillion from a record $149.8 trillion at the end of last year, the Fed’s quarterly snapshot of the national balance sheet showed.

The drop was driven by a $3 trillion fall in the value of corporate equities – a plunge that has worsened in the current quarter – while real estate values climbed another $1.7 trillion.

It was the first decline in household wealth since the first quarter of 2020, when the onset of the coronavirus pandemic shook financial markets and caused a short but deep recession.

Eurozone: British employers added staff in May at the slowest pace since early 2021, according to a survey that adds to signs that the labour market is losing some of its heat.

A measure of permanent staff hiring by accountants KPMG and the Recruitment and Employment Confederation (REC) fell for a sixth month to 59.2 from 59.8 in April, but remained well above the 50 thresholds for growth.

The survey’s gauge of temporary staff hiring in May also fell to its lowest since early last year.

The Bank of England has expressed concern that the surge in demand for staff could create longer-term inflation pressure after prices recently leapt on the reopening of the global economy followed by Russia’s invasion of Ukraine.

The BoE is widely expected to increase interest rates for the fifth time since December on June 16.

Top Economic Releases Today:

  1. U.S. Core CPI (MoM) (May) today at 8:30 this time estimated 0.50%, previously which was 0.60%. 
  2. CANADA Employment Change (May) today at 8:30 this time estimated 30.0K, previously which was 15.3K.
  3. RUSSIA Interest Rate Decision (Jun) today at 6:30 this time estimated 10.00%, previously which was 14.00%.
  4. CANADA Unemployment Rate (May) today at 8:30 this time estimated 5.20%, previously which was 5.20%.
  5. GERMANY Current Account Balance n.s.a (Apr) today at 10:00 previously which was 18.8B.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis Report
Technical Analysis Report

TRADE SUGGESTION- SELL AT 1.2483, TAKE PROFIT AT 1.2453 AND STOP LOSS AT 1.2555

EURUSD

Technical Analysis Report
Technical Analysis Report

TRADE SUGGESTION- SELL AT 1.0625, TAKE PROFIT AT 1.0591 AND STOP LOSS AT 1.0659

GBPJPY

Technical Analysis Report
Technical Analysis Report

TRADE SUGGESTION- BUY AT 167.047, TAKE PROFIT AT 167.670 AND STOP LOSS AT 166.618

CHFJPY

Technical Analysis Report
Technical Analysis Report

TRADE SUGGESTION- BUY AT 136.862, TAKE PROFIT AT 137.159 AND STOP LOSS AT 136.643

S&P 500

Technical Analysis Report
Technical Analysis Report

TRADE SUGGESTION- SELL AT 4012.49 TAKE PROFIT AT 3980.45 AND STOP LOSS AT 4044.10

WTI CRUDE OIL

Technical Analysis Report
Technical Analysis Report

TRADE SUGGESTION- BUY AT 120.68 TAKE PROFIT AT 121.31 AND STOP LOSS AT 120.07

GOLD

Technical Analysis Report
Technical Analysis Report

TRADE SUGGESTION- SELL AT 1846.74, TAKE PROFIT AT 1840.66 AND STOP AT 1853.81

LITECOIN

Technical Analysis Report
Technical Analysis Report

TRADE SUGGESTION- SELL AT 58.46 TAKE PROFIT AT 58.25 AND STOP AT 58.70

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