Technical Analysis Report on Forex, Stocks, Crypto and S&P 500 – 14 June

Technical Analysis Report on Forex, Stocks, Crypto and S&P 500 – 14 June

Technical Analysis of Financial Markets

S&P 500 Drops 3.9% Fueled by Worries of Interest Rate Hike by FED

Asia-Pacific stocks were down on Tuesday morning. The Shanghai Composite is up 0.40% at 3,268.02. Overall, the Singapore MSCI is down 0.75% at 283.90. Over in Hong Kong, the Hang Seng Index is up 0.57% at 21,014. In Japan, the Nikkei 225 is down 0.67% at 26,660.00, while the Topix index is down 0.58% at 1878.00. South Korea’s Kospi is down 0.46% at 2492.97. Australia S&P/ASX 200 down 3.55% at 6686.00.

Top News of the Day:

While the S&P 500 confirmed on Monday that it has been in a bear market since January, many of the benchmark’s components are in far worse shape following months of fear-driven selling related to rising interest rates and worries about the economy.

Market Summary as per 13/06/2022:

European equities Monday closing. The DAX futures contract in Germany traded down 2.43% at 13,427.03, CAC 40 futures down 2.67% at 6022.33 and the UK 100 futures contract in the U.K. down 1.53% at 7,205.80.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 2.79% at 30516.75. The S&P 500 down 3.88% at 3749.64 and the Nasdaq 100 down 4.60% at 11288.32, NYSE closes down 3.77% at 14527.89.

Top Market News Today:

In the Forex market, GBPUSD up 0.41% at 1.2181. The USDJPY up 0.14% at 134.609. The USDCHF down 0.33% at 0.9938. EURUSD up 0.36% at 1.0443, EUR/GBP up 0.01% at 0.8573. The USD/CNY down 0.57% at 6.7154 at the time of writing.

In the Commodity market U.S. Gold futures up 0.56% at $1,830.02. Elsewhere, Silver futures up 1.30% at $21.309 per ounce, Platinum up 0.91% at $940.50 per ounce, and Palladium up 2.90% at $1844.00.

Crude Oil up on Tuesday; Brent crude oil up 0.66% at $122.92 per barrel while U.S. West Texas Intermediate (CLc1) up 0.47% at $119.00.

In the Cryptocurrency Markets, Bitcoin at 22355.00 down 3.25%, Ethereum up 1.77% at 1230.14, Litecoin at 45.37 up 4.18%, at the time of writing.

Top Market Segment to Watch Out Today:

ORACLE: Oracle Corp topped Wall Street estimates for quarterly profit and revenue on Monday, as demand for its cloud products soars amid an industry-wide shift to cloud-based platforms.

Shares in the Austin, Texas-based company, whose fourth-quarter revenue jumped 5%, rose about 12% in extended trade.

Economic News:

US: U.S. Treasury Secretary Janet Yellen will visit the Rosebud Sioux Tribe next week in South Dakota to discuss COVID-19 aid funding and will travel to Toronto to meet Canadian Finance Minister Chrystia Freeland, the Treasury said on Monday.

Treasury and Rosebud Sioux officials said the visit on June 21 will give the tribe the opportunity to show Yellen the impact that some $195 million in American Rescue Plan funding is making on one of the poorest and largest tribal nations in the United States.

Officials from both the Treasury and the tribe said they could find no records of a Treasury secretary previously visiting any Native American nation. Yellen pledged last November to visit a tribal community during the next year.

In a statement, the Treasury said Yellen will “highlight the disproportionate impact the pandemic has had on tribal communities and how the American Rescue Plan funds are supporting their recovery.”

Eurozone: German consumer prices in May inched higher on a monthly basis to 0.9% from 0.8%, according to a final CPI reading from the Federal Statistical Office on Tuesday, as inflationary pressure deepens on Europe’s largest economy.

The annual figure also jumped to 7.9% in May, up from 7.4% in the previous month, suggesting that the European Central Bank will face a challenge in its bid to control soaring inflation.

The data comes after Germany’s central bank warned last week that inflation would rise by 7.1% in 2022 – far above its previous estimate of 3.6% in December. The Bundesbank added that higher prices are also set to linger into next year, with the 2023 inflation forecast now seen higher at 4.5% from 2.2%.

“Inflation this year will be even stronger than it was at the beginning of the 1980s,” said Bundesbank president Joachim Nagel in a statement.

Top Economic Releases Today:

  1. U.S. PPI (MoM) (May) today at 8:30 this time estimated 0.8%, previously which was 0.5%. 
  2. CANADA Manufacturing Sales (MoM) (Apr) today at 8:30 this time estimated 1.6%, previously which was 2.5%.
  3. U.S. API Weekly Crude Oil Stock today at 16:30 previously which was 1.845M.
  4. CHINA Industrial Production (YoY) (May) today at 22:00 this time estimated -0.7%, previously which was -2.9%.
  5. AUSTRALIA House Price Index (QoQ) (Q1) today at 21:30 this time estimated 1.4%, previously which was 4.7%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.2180, TAKE PROFIT AT 1.2153 AND STOP LOSS AT 1.2206

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.0473, TAKE PROFIT AT 1.0416 AND STOP LOSS AT 1.0506

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.8585, TAKE PROFIT AT 0.8591 AND STOP LOSS AT 0.8576

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 140.729, TAKE PROFIT AT 141.691 AND STOP LOSS AT 139.817

EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 3518.00 TAKE PROFIT AT 3500.00 AND STOP LOSS AT 3530.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 121.71 TAKE PROFIT AT 122.30 AND STOP LOSS AT 121.31

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1829.48, TAKE PROFIT AT 1820.45 AND STOP AT 1835.79

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1217.30 TAKE PROFIT AT 1161.96 AND STOP AT 1249.93

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