Technical Analysis Report Today – 04 August 2021

Technical Analysis

Technical Analysis Report Today – 04 August 2021

Asia Pacific stocks were mostly up on Wednesday morning. The Shanghai composite is up 0.79% at 3,475.04. Overall, the Singapore MSCI up 1.72% at 363.25. Over in Hong Kong, the Hang Seng Index up 1.44% at 26,428. In Japan, the Nikkei 225 up 0.04% at 27,590, while the Topix index is down 0.34% at 1921.0. South Korea’s Kospi up 1.34% to 3280.38. Australia S&P/ASX 200 up 0.38% at 7503.2.

European equities Tuesday closing. The DAX futures contract in Germany traded down 0.09% at 15555.08, CAC 40 futures up 0.72% at 6723.82 and the UK 100 futures contract in the U.K. up 0.27% at 7,143.00.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.80% at 35116.41. The S&P 500 up 0.82% to 4423.16 and the Nasdaq 100 up 0.65% at 15061.42, NYSE closes at 16713.46 up 0.83%.

In the Forex market, GBPUSD up 0.14% at 1.39331. The USDJPY up 0.07% at 109.104. The USDCHF up 0.03% at 0.90386. EURUSD up 0.06% at 1.1870, EUR/GBP down 0.04% at 0.85195. The USD/CNY down 0.12% at 6.4606, at the time of writing.

In the commodity market U.S. Gold futures up 0.17% at $1,813.44. Elsewhere, Silver futures up 0.61% to $25.63 per ounce, Platinum down 0.12% at $1049.25 per ounce, and Palladium up 0.30% to $2,654.50.

Crude Oil mix on Wednesday; Brent crude oil up 0.14% at $72.40 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.74% at $70.93.

In the Cryptocurrency Markets, BTCUSD at 38051.65 down 0.36%, Ethereum at 2494.53 down 0.54%, Litecoin at 137.06 down 0.83%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Moderna Inc. up 11.512% at $386.51, Gartner Inc. up 10.831% at $293.67, PVH Corp. up 4.861% to $109.36, Mosaic Co. up 4.746% to $31.34, Discovery Inc. down 4.194% to $27.87, Clorox Co. down 9.459% at $164.06.

Economic news:

US: The U.S. overnight repurchase rate fell on Tuesday, a day after funding pressures lifted the general collateral (GC) repo rate as high as 0.12% due to the settlement of last week’s Treasury auctions, traders said.

The overnight repo rate measures the cost of borrowing short-term cash using Treasuries or other debt securities as collateral.

Analysts expect repo rates to remain steady this week at 0.05% to 0.06% after a blip up on Monday.

One of many overnight repo rates, the GC rate refers to the level or figure corresponding to a basket of securities that trade normally. GC securities can be substituted for one another without changing the repo rate.

On Tuesday, the GC rate hit a high of 0.10% before closing at 0.04%, data from Curvature Securities showed. The repo rate hit a peak of 0.12% on Monday, the highest since February, and closed at 0.10%.

Eurozone: Portugal, Luxembourg and Belgium on Tuesday received their first tranches of money from the 800-billion-euro ($950.8 billion) EU recovery fund aimed at helping them rebound from the pandemic and make their economies greener and more digitalised.

The pay-out amounted to 13% of the total allocated to each of the three countries. The European Commission disbursed 2.2 billion euros to Portugal, 770 million to Belgium and 12.1 million to Luxembourg.

Further pay-outs are tied to the implementation of objectives and reforms set out in each country’s proposal.

The EU executive has earmarked a total of 16.6 billion in grants and loans for Portugal, 5.9 billion in grants for Belgium and 93.4 million in grants for Luxembourg.

Important Data: UK Services PMI (Jul) data today at 4:30 this time estimated 57.8, previously which was 62.4. US ADP Nonfarm Employment Change (Jul) today at 8:15 this time estimated 695K, previously which was 692K. US Crude Oil Inventories today at 10:30 this time estimated -3.102M, previously which was -4.089M. AUSTRALIA Trade Balance (Jun) today at 21:30 this time estimated 10.45B, previously which was 9.681B.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.39298, TAKE PROFIT AT 1.39580 AND STOP LOSS AT 1.39013

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.18719, TAKE PROFIT AT 1.18911 AND STOP LOSS AT 1.18551

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 152.132, TAKE PROFIT AT 151.565 AND STOP LOSS AT 152.385

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 120.656, TAKE PROFIT AT 120.963 AND STOP LOSS AT 120.497

DAX 30

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 15670.5 TAKE PROFIT AT 15728.0 AND STOP LOSS AT 15605.9

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 70.59 TAKE PROFIT AT 69.77 AND STOP LOSS AT 71.67

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1814.22, TAKE PROFIT AT 1822.33 AND STOP AT 1807.71

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 2474.36 TAKE PROFIT AT 2402.29 AND STOP AT 2545.86

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