Technical Analysis Report Today – 01 September 2021

Technical Analysis

Technical Analysis Report Today – 01 September 2021

Asia Pacific stocks were mixed on Wednesday morning. The Shanghai composite is up 0.52% at 3,562.43. Overall, the Singapore MSCI up 0.85% at 355.15. Over in Hong Kong, the Hang Seng Index up 0.70% at 25,939. In Japan, the Nikkei 225 up 1.03% at 28,480, while the Topix index is up 0.92% at 1983.0. South Korea’s Kospi up 0.29% to 3208.64. Australia S&P/ASX 200 down 0.21% at 7518.8.

European equities Tuesday closing. The DAX futures contract in Germany traded down 0.33% at 15835.09, CAC 40 futures down 0.11% at 6680.19 and the UK 100 futures contract in the U.K. down 0.40% at 7,119.71.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.11% at 35360.74. The S&P 500 down 0.13% at 4522.69 and the Nasdaq 100 up 0.17% at 15630.5, NYSE closes at 16806.43 down 0.08%.

In the Forex market, GBPUSD down 0.03% at 1.37506. The USDJPY up 0.21% at 110.216. The USDCHF up 0.36% at 0.91830. EURUSD down 0.08% at 1.1799, EUR/GBP up 0.05% at 0.85784. The USD/CNY flat at 6.4611, at the time of writing.

In the commodity market U.S. Gold futures up 0.15% at $1,816.34. Elsewhere, Silver futures down 0.06% to $23.854 per ounce, Platinum up 0.08% at $1013.53 per ounce, and Palladium up 0.25% at $2,478.79.

Crude Oil mix on Wednesday; Brent crude oil up 0.53% at $72.06 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.85% at $68.89.

In the Cryptocurrency Markets, BTCUSD at 47253.54 up 0.21%, Ethereum at up 2.37% at 3514.05, Litecoin at 172.37 up 0.50%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

APA Corp. up 4.394% at $19.48, Discovery Inc. up 3.555% at $28.84, Willis Towers Watson PLC. up 2.318% to $220.72, CSX Corp. down 1.722% to $32.53, Biogen Inc. down 1.6% to $338.91, DocuSign Inc. down 2.437% at $296.24.

Economic news:

US: U.S. single-family home prices in 20 key urban markets rose in June from a year earlier at the fastest pace on record, a closely watched survey showed on Tuesday.

The S&P CoreLogic Case-Shiller composite index of 20 metropolitan areas gained 19.1% through the 12 months ended in June from an upwardly revised 17.1% in the 12 months through May, marking the largest annual price increase in the survey’s two decades. A Reuters poll of economists had forecast an increase of 18.5%.

On a month-to-month basis, the 20-city composite index rose 1.8% from May, in line with estimates from economists polled by Reuters.

Among the 20 cities, Phoenix, San Diego, and Seattle reported the largest year-over-year gains in June.

A separate report from the Federal Housing Finance Agency (FHFA) on Tuesday showed its house price index rose a record 18.8% in the 12 months through June. House prices surged 17.4% in the second quarter compared to the same period in 2020.

Eurozone: The euro zone economy is growing quicker than earlier predicted and the European Central Bank will factor this into its policy decisions, ECB Vice President Luis de Guindos told a Spanish newspaper.

As borrowing costs stay extra low and the euro zone has largely avoided the worst of the pandemic’s Delta variant, several policymakers have called for a reduction in emergency bond purchases as soon as next week, in preparation for their end next March.

“The economy is performing better in 2021 than we expected, and this will be reflected in the projections that will be published in the coming days,” El Confidential quoted de Guindos as saying on Wednesday.

“We will have new projections in the coming days and will take our decisions accordingly,” de Guindos said.

On Sept. 9, the ECB will have to decide on the pace of bond purchases for the coming quarter. While de Guindos did not offer a view on the pending move, he argued that the robust recovery paves the way for the eventual withdrawal of copious support.

Important Data: UK Manufacturing PMI (Aug) today at 4:30 this time estimated 60.1, previously which was 60.4. EURO ZONE Unemployment Rate (Jul) today at 5:00 this time estimated 7.6%, previously which was 7.7%. US ADP Nonfarm Employment Change (Aug) today at 8:15 this time estimated 613K, previously which was 330K. US Crude Oil Inventories today at 10:30 this time estimated -3.088M, previously which was -2.979M.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.37452, TAKE PROFIT AT 1.37189 AND STOP LOSS AT 1.37815

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.18046, TAKE PROFIT AT 1.18207 AND STOP LOSS AT 1.17917

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 110.199, TAKE PROFIT AT 110.396 AND STOP LOSS AT 110.089

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.91829, TAKE PROFIT AT 0.92027 AND STOP LOSS AT 0.91681

S&P 500

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 4540.09 TAKE PROFIT AT 4550.00 AND STOP LOSS AT 4532.36

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 69.08 TAKE PROFIT AT 69.55 AND STOP LOSS AT 68.54

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1812.16, TAKE PROFIT AT 1818.97 AND STOP AT 1806.03

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 172.98 TAKE PROFIT AT 164.64 AND STOP AT 180.66

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