Technical Analysis Report Today – 02 June 2021

Technical Analysis

Technical Analysis Report Today – 02 June 2021

Asia Pacific stocks were mostly up Wednesday morning. The Shanghai composite is down 1.07% at 3,586.06. Overall, the Singapore MSCI down 1.24% at 358.15. Over in Hong Kong, the Hang Seng Index down 0.53% to 29,192. In Japan, the Nikkei 225 up 0.66% at 28,950, while the Topix index is up 1.15% at 1942.0. South Korea’s Kospi up 0.01% to 3220.89. Australia S&P/ASX 200 up 0.99% at 7213.3.

European equities Tuesday closing. The DAX futures contract in Germany traded 0.95% up at 15567.36, CAC 40 futures up 0.66% at 6489.41 and the UK 100 futures contract in the U.K. up 0.11% at 7,083.50.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.01% at 34575.32 the S&P 500 down 0.05% to 4202.03 and the Nasdaq 100 down 0.05% at 13645.6, NYSE closes at 16643.32 up 0.53%.

In the Forex market, GBPUSD up 0.06% at 1.41542. The USDJPY up 0.24% at 109.73. The USDCHF up 0.07% at 0.89773. EURUSD down 0.01% at 1.22118, EUR/GBP flat at 0.86285. The USD/CNY up 0.08% at 6.3869, at the time of writing.

In the commodity market U.S. Gold futures down 0.09% at $1,898.20. Elsewhere, Silver futures down 0.39% to $27.757 per ounce, Platinum down 0.71% at $1186.13 per ounce, and Palladium down 0.51% to $2,846.00.

Crude Oil mix on Wednesday; Brent crude oil down 0.11% to $70.52 barrel while U.S. West Texas Intermediate (CLc1) is up 1.83% at $67.83.

In the Cryptocurrency Markets, BTCUSD at 36845.25 up 0.41%, Ethereum at 2645.00 up 0.41%, Litecoin at 183.03 up 0.09%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Top 5 Stock
Top 5 Stock

HESS Corp. up 4.713% at $87.77, NUCOR Corp. up 7.997% at $110.74, INVESCO Ltd. down 4.697% to $27.19, EBAY Inc. up 0.805% to $61.37, BAIDU Inc. up 2.828% to $201.82, ADOBE Inc. down 1.718% at $495.91.

Economic news:

US: The U.S. Securities and Exchange Commission (SEC) chair said on Tuesday the agency will review shareholder voting rule changes adopted under the administration of former President Donald Trump that have faced criticism for weakening investor power.

Gary Gensler, appointed by Democratic U.S. President Joe Biden, said the regulator would consider drafting a new proposal for overseeing proxy advisers – firms that recommend to investors on how to vote in corporate elections and cast ballots on behalf of some asset managers.

As proxy advisers have grown more influential on hot button corporate governance issues such as climate change, compensation and diversity in recent years, corporate lobbyists have pushed for greater oversight of the firms.

In August 2019, the SEC issued guidance requiring proxy voting firms take more steps to disclose how they craft their shareholder recommendations. The agency also outlined steps that the firms should consider to ensure they are actually voting the way investors designate.

Eurozone: The European Commission is set to borrow about 80 billion euros ($97.76 billion) this year in long-term bonds to finance the European Union’s plan for economic revival after the pandemic, the EU executive said in a statement on Tuesday.

The Commission said the borrowing, to begin later in June, would be topped up with tens of billions of euros of short-term EU-Bills to cover the remaining financing requirements, adding it would update its funding plan in September.

“The Commission will be able to fund, over the second half of the year, all planned grants and loans to member states under the Recovery and Resilience Facility, as well as cover the needs of the EU policies that receive NextGenerationEU funding,” the Commission said in a statement.

The money is the first part of the EU’s landmark scheme of 800 billion euros, in current prices, that is be distributed to all 27 governments of the bloc in grants and loans.

To get its share of the cash, each government has to submit to the Commission a plan of reforms and investment that will focus on making the economy greener and more digital and boosting its resilience to future health crises.

Important Data: US API Weekly Crude Oil Stock today at 16:30 previously which was -0.439M. JAPAN Services PMI (May) today at 20:30 previously which was 49.5. AUSTRALIA Retail Sales (MoM) (Apr) today at 21:30 this time estimated 1.1%, previously which was 1.1%. UK BoE Gov Bailey Speaks today at 11:00.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.41383, TAKE PROFIT AT 1.41263 AND STOP LOSS AT 1.41484

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.22035, TAKE PROFIT AT 1.21779 AND STOP LOSS AT 1.22324

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 155.216, TAKE PROFIT AT 155.316 AND STOP LOSS AT 154.771

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 122.185, TAKE PROFIT AT 122.227 AND STOP LOSS AT 122.152

CAC 40

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 6485.1 TAKE PROFIT AT 6501.6 AND STOP LOSS AT 6480.2

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 67.81 TAKE PROFIT AT 67.98 AND STOP LOSS AT 67.75

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1899.65, TAKE PROFIT AT 1902.30 AND STOP AT 1895.66

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 2700.52 TAKE PROFIT AT 2692.82 AND STOP AT 2749.45

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