Technical Analysis Report Today – 06 August 2021

Technical Analysis

Technical Analysis Report Today – 06 August 2021

Asia Pacific stocks were mostly down on Friday morning. The Shanghai composite is down 1.34% at 3,184.09. Overall, the Singapore MSCI down 0.03% at 362.55. Over in Hong Kong, the Hang Seng Index down 0.02% at 26,119. In Japan, the Nikkei 225 up 0.47% at 27,810, while the Topix index is up 0.10% at 1928.0. South Korea’s Kospi down 0.20% to 3269.52. Australia S&P/ASX 200 up 0.14% at 7521.4.

European equities Thursday closing. The DAX futures contract in Germany traded up 0.33% at 15744.67, CAC 40 futures up 0.52% at 6781.20 and the UK 100 futures contract in the U.K. up 0.06% at 7,133.10.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.78% at 35064.26. The S&P 500 down 0.60% to 4429.09 and the Nasdaq 100 down 0.08% at 15172.00, NYSE closes at 16695.50 up 0.61%.

In the Forex market, GBPUSD down 0.04% at 1.3921. The USDJPY up 0.04% at 109.827. The USDCHF up 0.13% at 0.90764. EURUSD down 0.05% at 1.1826, EUR/GBP up 0.05% at 0.84953. The USD/CNY up 0.05% at 6.4642, at the time of writing.

In the commodity market U.S. Gold futures down 0.24% at $1,800.07. Elsewhere, Silver futures up 0.07% to $25.152 per ounce, Platinum up 0.54% at $1009.09 per ounce, and Palladium up 0.28% to $2,660.22.

Crude Oil mix on Friday; Brent crude oil up 0.81% at $71.78 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.88% at $69.91.

In the Cryptocurrency Markets, BTCUSD at 40831.80 down 0.15%, Ethereum at 2784.37 down 1.62%, Litecoin at 146.37 up 2.01%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Carnival Corp. up 7.177% at $22.55, Marathon Oil Corp. up 6.697% at $11.79, ETSY Inc. down 9.743% to $182.41, Xilinx Inc. up 4.391% to $150.98, Amgen Inc. up 2.488% to $233.99, eBay Inc. down 1.059% at $67.28.

Economic news:

US: The U.S. Senate, unable to finalize a $1 trillion infrastructure bill on Thursday, will try again on Saturday when it is scheduled to hold a vote on limiting debate and moving toward passage of the hard-fought legislation.

Senate Majority Leader Chuck Schumer struggled throughout the day to reach closure on a bipartisan bill that would trigger new construction projects throughout the United States to expand or refurbish roads, highways, bridges, airports and other public works, many of them in substandard condition.

Following hours of closed-door negotiations, senators failed to reach an agreement on remaining amendments to the bill, beyond the nearly two dozen already debated this week.

“We have been trying to vote on amendments all day but have encountered numerous objections from the other side,” Schumer said, referring to Republicans.

Eurozone: The Bank of England said on Thursday it could see a modest reduction ahead in the huge support it has provided to Britain’s economy during the COVID-19 pandemic and set out how it could gradually tighten monetary policy.

For now, the central bank decided to keep its stimulus at full speed, even though it expects inflation to jump to 4.0% around the end of the year.

Only one of the BoE’s eight monetary policy-makers, Michael Saunders, voted to reduce the size of its bond-buying programme which remains unchanged at 895 billion pounds ($1.25 trillion).

The vote to hold its benchmark interest rate at a historic low of 0.1% was unanimous, as expected.

With more than 70% of adults in Britain now fully vaccinated against COVID-19 and most social-distancing rules lifted, Britain’s economy has recouped much of its 10% crash of 2020.

Important Data: US Nonfarm Payrolls (Jul) data today at 8:30 this time estimated 870K, previously which was 850K. US Unemployment Rate (Jul) today at 8:30 this time estimated 5.7%, previously which was 5.9%. CANADA Employment Change (Jul) today at 8:30 this time estimated 177.5K, previously which was 230.7K. CANADA Ivey PMI (Jul) today at 10:00 previously which was 71.9.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.39173, TAKE PROFIT AT 1.39340 AND STOP LOSS AT 1.38929

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.18248, TAKE PROFIT AT 1.18045 AND STOP LOSS AT 1.18466

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.8492, TAKE PROFIT AT 0.8489 AND STOP LOSS AT 0.8494

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 129.821, TAKE PROFIT AT 129.588 AND STOP LOSS AT 130.021

CAC 40

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 6773.6 TAKE PROFIT AT 6784.20 AND STOP LOSS AT 6768.50

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 69.47 TAKE PROFIT AT 68.46 AND STOP LOSS AT 70.53

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1799.32, TAKE PROFIT AT 1791.94 AND STOP AT 1808.33

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 2772.82 TAKE PROFIT AT 2780.22 AND STOP AT 2767.60

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