Technical Analysis Report Today – 06 July 2021

Technical Analysis Report Today – 06 July 2021

Asia Pacific stocks were mostly up Tuesday morning. The Shanghai composite is down 0.96% at 3,500.27. Overall, the Singapore MSCI up 1.88% at 362.75. Over in Hong Kong, the Hang Seng Index down 0.71% at 27,887. In Japan, the Nikkei 225 up 0.21% at 28,630, while the Topix index is up 0.36% at 1953.0. South Korea’s Kospi up 0.34% to 3304.52. Australia S&P/ASX 200 down 0.68% at 7265.5.

European equities Monday closing. The DAX futures contract in Germany traded 0.08% up at 15661.97, CAC 40 futures up 0.22% at 6567.55 and the UK 100 futures contract in the U.K. down 0.29% at 7,125.9.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.44% at 34786.36. The S&P 500 up 0.75% to 4352.33 and the Nasdaq 100 down 0.05% at 14707.3, NYSE closes at 16674.84 up 0.20%.

In the Forex market, GBPUSD up 0.45% at 1.38971. The USDJPY down 0.14% at 110.791. The USDCHF down 0.26% at 0.91958. EURUSD up 0.29% at 1.18938, EUR/GBP down 0.03% at 0.85584. The USD/CNY down 0.09% at 6.4586, at the time of writing.

In the commodity market U.S. Gold futures up 0.77% at $1,804.94. Elsewhere, Silver futures up 0.82% to $26.644 per ounce, Platinum up 0.90% at $1111.57 per ounce, and Palladium up 0.16% to $2,820.00.

Crude Oil up on Tuesday; Brent crude oil up 0.44% at $77.42 barrel while U.S. West Texas Intermediate (CLc1) is up 0.50% at $76.66.

In the Cryptocurrency Markets, BTCUSD at 34711.72 up 2.99%, Ethereum at 2320.62 up 5.53%, Litecoin at 141.92 up 2.60%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

ORACLE Corp. up 2.867% at $81.82, CARMAX Inc. up 2.481% at $133.82, MICROSOFT Corp. up 2.228% to $277.65, APPLE Inc. up 1.96% to $139.96, BAIDU Inc. down 2.363% to $196.7, BOEING Inc. down 1.272% at $236.68.

Economic news:

US: The head of the International Monetary Fund warned on Monday of a “dangerous divergence” between wealthy and developing countries as they seek to recover from the COVID-19 pandemic.

Kristalina Georgieva said that strong growth in wealthy countries like the United States was “good news” but developing countries were being held back by slow vaccination rates.

“That is danger for the coherence of growth and it is also a danger for global stability and security,” she told the Paris Peace Forum where the heads of the World Trade Organization (WTO) and World Bank also spoke.

WTO director-general Ngozi Okonjo-Iweala similarly expressed concerns, warning of a “K-shaped recovery” with regions like Latin America, the Middle East and Africa that have lower vaccination rates experiencing very slow growth.

Eurozone: The European Central Bank is open to giving banks in the euro zone more time to rebuild capital buffers if the current crisis leads to a material deterioration of asset quality, ECB bank supervisor Andrea Enria said on Monday.

“We plan to stick to the flexibility that we provide banks, to use the capital buffers until at least 2022,” Enria told an online conference. “But we can also reconsider the time path if there were to be a significant materialisation of asset quality problems.”

“We don’t want to start tightening again the capital buffers while the crisis is still impacting on the banks’ balance sheets,” Enria added.

Important Data: UK Construction PMI (Jun) today at 4:30 this time estimated 63.8, previously which was 64.2. US Markit Composite PMI (Jun) today at 9:45 this time estimated 63.9, previously which was 68.7. German ZEW Economic Sentiment (Jul) today at 5:00 this time estimated 75.2, previously which was 79.8. EURO ZONE Retail Sales (MoM) (May) today at 5:00 this time estimated 4.4%, previously which was -3.1%.          

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.39043, TAKE PROFIT AT 1.38484 AND STOP LOSS AT 1.39446

EURUSD

TRADE SUGGESTION- SELL AT 1.19046, TAKE PROFIT AT 1.18653 AND STOP LOSS AT 1.19388

CHFJPY

TRADE SUGGESTION- SELL AT 119.924, TAKE PROFIT AT 119.790 AND STOP LOSS AT 120.100

NZDUSD

TRADE SUGGESTION- SELL AT 0.69658, TAKE PROFIT AT 0.69379 AND STOP LOSS AT 0.7000

DAX 30

TRADE SUGGESTION- BUY AT 15740.3 TAKE PROFIT AT 15759.6 AND STOP LOSS AT 15731.7

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 70.25 TAKE PROFIT AT 70.60 AND STOP LOSS AT 70.00

GOLD

TRADE SUGGESTION- SELL AT 1782.73, TAKE PROFIT AT 1769.08 AND STOP AT 1797.33

RIPPLE

TRADE SUGGESTION- SELL AT 0.8421 TAKE PROFIT AT 0.8170 AND STOP AT 0.8739

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