Technical Analysis Report Today – 02 July 2021

Technical Analysis

Technical Analysis Report Today – 02 July 2021

Chinese shares dropped on Friday. The Shanghai composite is down 0.07% at 3,588.78. Overall, the Singapore MSCI up 0.10% at 355.55. Over in Hong Kong, the Hang Seng Index down 1.67% at 28,151. In Japan, the Nikkei 225 up 0.42% at 28,750, while the Topix index is up 0.90% at 1952.0. South Korea’s Kospi up 0.01% to 3282.54. Australia S&P/ASX 200 up 0.51% at 7302.5.

European equities Thursday closing. The DAX futures contract in Germany traded 0.47% up at 15603.81, CAC 40 futures up 0.71% at 6553.83 and the UK 100 futures contract in the U.K. up 1.25% at 7,125.17.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.38% at 34633.54. The S&P 500 up 0.52% to 4319.93 and the Nasdaq 100 down 0.14% at 14533.3, NYSE closes at 16640.95 up 0.52%.

In the Forex market, GBPUSD up 0.06% at 1.37647. The USDJPY up 0.06% at 111.583. The USDCHF up 0.10% at 0.92618. EURUSD down 0.06% at 1.18415, EUR/GBP up 0.03% at 0.86019. The USD/CNY up 0.17% at 6.4802, at the time of writing.

In the commodity market U.S. Gold futures up 0.12% at $1,778.15. Elsewhere, Silver futures up 0.08% to $26.032 per ounce, Platinum up 0.57% at $1089.61 per ounce, and Palladium down 0.04% to $2,764.50.

Crude Oil up on Friday; Brent crude oil up 0.09% at $75.64 barrel while U.S. West Texas Intermediate (CLc1) is up 2.03% at $74.82.

In the Cryptocurrency Markets, BTCUSD at 32858.58 down 2.10%, Ethereum at 2029.71 down 3.70%, Litecoin at 131.43 down 4.12%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

VIATRIS Inc. up 3.219% at $14.75, KLA Corp. down 3.846% at $311.74, ETSY Inc. down 3.075% to $199.51, FACEBOOK up 1.921% to $354.39, FINSERV Inc. up 1.357% to $108.34, AMGEN Inc. up 1.292% at $246.9.

Economic news:

US: The Congressional Budget Office on Thursday doubled its forecast for U.S. economic growth in fiscal 2021 to 7.4% and said it expected the federal budget deficit to decline slightly to about $3 trillion despite higher coronavirus aid spending.

The upbeat forecast from the non-partisan CBO was mirrored by a sharply higher forecast for U.S. economic output from the International Monetary Fund, which raised its projection for U.S. gross domestic product growth to 7% from 6.4%.

The White House welcomed both of the rosy projections – along with others in recent weeks from the World Bank, the Organization for Economic Cooperation and Development and the Federal Reserve – as evidence that President Joe Biden’s plans to jumpstart the U.S. economy were working.

“Growth projections are up, deficit projections are down and unemployment will continue to decrease. Biden’s economy is booming,” a White House official said, adding that the newest forecasts also saw the current bump in consumer prices as temporary.

Eurozone: Britain’s finance minister pledged on Thursday to “sharpen” the competitive advantage of the UK financial services sector as he set out his vision for its future after the City of London lost business to the bloc after Brexit.

In his first Mansion House speech, traditionally an annual address given by the Chancellor of the Exchequer in the City of London financial district, Rishi Sunak said Britain’s departure from the European Union was a unique opportunity to tailor rules while maintaining high regulatory standards and open markets.

Brexit has largely severed the City’s ties with investors in the EU, triggering a shift in over 7,500 financial jobs from London to new hubs in the bloc, with Amsterdam leapfrogging London to become Europe’s biggest share trading centre.

Last year the finance ministry rolled out reviews to listings rules, fintech and insurance capital rules, and on Thursday it announced there would be further public consultations on financial reforms.

Important Data: US Average Hourly Earnings (YoY) (Jun) today at 8:35 this time estimated 3.7%, previously which was 2.0%. US Nonfarm Payrolls (Jun) today at 8:30 this time estimated 700K, previously which was 559K. CANADA Building Permits (MoM) (May) today at 8:30 this time estimated -0.3%, previously which was -0.5%. EURO ZONE ECB President Lagarde Speaks today at 8:30.  

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.37525, TAKE PROFIT AT 1.37197 AND STOP LOSS AT 1.37864

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.18333, TAKE PROFIT AT 1.18087 AND STOP LOSS AT 1.18610

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 111.577, TAKE PROFIT AT 111.619 AND STOP LOSS AT 111.526

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.92608, TAKE PROFIT AT 0.92642 AND STOP LOSS AT 0.92584

FTSE 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 7139.60 TAKE PROFIT AT 7169.50 AND STOP LOSS AT 7118.60

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 75.07 TAKE PROFIT AT 75.22 AND STOP LOSS AT 74.96

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1776.18, TAKE PROFIT AT 1783.84 AND STOP AT 1771.65

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 2032.56 TAKE PROFIT AT 1931.15 AND STOP AT 2139.13

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