Technical Analysis Report Today – 02 September 2021

Technical Analysis

Technical Analysis Report Today – 02 September 2021

Asia Pacific stocks were mixed on Thursday morning. The Shanghai composite is up 0.67% at 3,591.09. Overall, the Singapore MSCI down 0.32% at 355.15. Over in Hong Kong, the Hang Seng Index down 0.04% at 25,919. In Japan, the Nikkei 225 up 0.04% at 28,500, while the Topix index is down 0.13% at 1981.5. South Korea’s Kospi down 0.97% to 3175.85. Australia S&P/ASX 200 down 0.54% at 7486.2.

European equities Wednesday closing. The DAX futures contract in Germany traded down 0.22% at 15767.00, CAC 40 futures up 1.18% at 6758.70 and the UK 100 futures contract in the U.K. up 0.42% at 7,149.85.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.14% at 35312.54. The S&P 500 up 0.03% at 4524.10 and the Nasdaq 100 up 0.03% at 15618.8, NYSE closes at 16845.98 up 0.24%.

In the Forex market, GBPUSD up 0.10% at 1.37811. The USDJPY up 0.02% at 110.002. The USDCHF up 0.07% at 0.91520. EURUSD up 0.02% at 1.1841, EUR/GBP down 0.05% at 0.85925. The USD/CNY up 0.04% at 6.4614, at the time of writing.

In the commodity market U.S. Gold futures up 0.06% at $1,814.33. Elsewhere, Silver futures up 0.12% to $24.140 per ounce, Platinum down 0.15% at $999.98 per ounce, and Palladium down 0.57% at $2,440.00.

Crude Oil up on Thursday; Brent crude oil up 0.22% at $71.44 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.12% at $68.97.

In the Cryptocurrency Markets, BTCUSD at 49732.75 up 1.80%, Ethereum at down 2.10% at 3751.20, Litecoin at 183.58 up 1.43%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Moderna Inc. up 3.518% at $389.94, Equinix Inc. up 3.01% at $868.84, Dexcom Inc. up 2.928% to $544.92, Marathon Oil Corp. down 4.17% to $11.26, Western Digital Corp. down 3.418% to $61.04, KLA Corp. down 1.327% at $335.45.

Economic news:

US: The U.S. House of Representatives Armed Services Committee on Wednesday backed a proposal to increase spending for the Department of defence by about $25 billion, more than the $715 billion proposed by President Joe Biden’s administration.

The vote paved the way for $740 billion budget for the Pentagon next year, since the Senate Armed Services Committee had already backed that spending level in its version of the bill.

The vote in favour of the amendment to the annual National defence Authorization Act, or NDAA, was 42-17, as more than a dozen Democrats joined every committee Republican in favour of higher spending.

Eurozone: British house prices rebounded surprisingly strongly in August, chalking up their second-biggest monthly rise in 15 years after a fall the month before when a pandemic-era tax break began to be phased out.

Mortgage lender Nationwide Building Society said British house prices rose by 2.1% month on month in August after a 0.6% fall in July, well above economists’ forecasts in a Reuters poll for a modest 0.2% increase.

Property purchases slumped in July when a year-long exemption from stamp duty for the first 500,000 pounds ($687,550) of a house purchase ended in England and Northern Ireland.

“The bounce back in August is surprising because it seemed more likely that the tapering of stamp duty relief in England at the end of June would take some of the heat out of the market,” Nationwide chief economist Robert Gardner said.

But the pick-up in prices in August suggests the importance of other factors such as a shortage of houses and demand for more spacious accommodation suited to working from home, which have pushed up prices in Britain and in other countries.

Important Data: US Initial Jobless Claims today at 8:30 this time estimated 345K, previously which was 353K. US Trade Balance (Jul) today at 8:30 this time estimated -71.00B, previously which was -75.70B. CANADA Trade Balance (Jul) today at 8:30 this time estimated 1.40B, previously which was 3.23B. RUSSIA Central Bank reserves (USD) today at 9:00 previously which was 595.6B.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.3774, TAKE PROFIT AT 1.38016 AND STOP LOSS AT 1.37505

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.18392, TAKE PROFIT AT 1.18718 AND STOP LOSS AT 1.18203

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.85942, TAKE PROFIT AT 0.86069 AND STOP LOSS AT 0.85818

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 130.302, TAKE PROFIT AT 130.522 AND STOP LOSS AT 130.153

FTSE 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 7149.20 TAKE PROFIT AT 7170.50 AND STOP LOSS AT 7135.30

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 68.54 TAKE PROFIT AT 69.28 AND STOP LOSS AT 68.13

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1813.56, TAKE PROFIT AT 1819.31 AND STOP AT 1806.26

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 50081.16 TAKE PROFIT AT 50439.90 AND STOP AT 49773.00

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