Technical Analysis Report Today – 07 July 2021

Technical Analysis Report Today – 07 July 2021

Asia Pacific stocks were mostly down Wednesday morning. The Shanghai composite is up 0.65% at 3,553.02. Overall, the Singapore MSCI down 2.22% at 356.15. Over in Hong Kong, the Hang Seng Index down 0.46% at 27,819. In Japan, the Nikkei 225 down 1.05% at 28,310, while the Topix index is down 0.85% at 1933.5. South Korea’s Kospi down 0.69% to 3282.51. Australia S&P/ASX 200 up 0.92% at 7328.3.

European equities Tuesday closing. The DAX futures contract in Germany traded 0.96% down at 15511.38, CAC 40 futures down 0.91% at 6507.49 and the UK 100 futures contract in the U.K. down 0.89% at 7,100.89.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.60% at 34577.38. The S&P 500 down 0.20% to 4343.53 and the Nasdaq 100 up 0.14% at 14794.9, NYSE closes at 16542.75 down 0.79%.

In the Forex market, GBPUSD up 0.11% at 1.38076. The USDJPY flat at 110.606. The USDCHF down 0.02% at 0.92347. EURUSD up 0.03% at 1.18274, EUR/GBP up 0.02% at 0.85655. The USD/CNY down 0.17% at 6.4677, at the time of writing.

In the commodity market U.S. Gold futures up 0.28% at $1,801.14. Elsewhere, Silver futures up 0.63% to $26.304 per ounce, Platinum up 0.13% at $1092.83 per ounce, and Palladium up 0.02% to $2,793.50.

Crude Oil down on Wednesday; Brent crude oil down 0.19% at $74.79 barrel while U.S. West Texas Intermediate (CLc1) is down 1.71% at $73.49.

In the Cryptocurrency Markets, BTCUSD at 34777.21 up 1.56%, Ethereum at 2380.00 up 2.45%, Litecoin at 141.93 up 2.16%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

AMAZON.COM Inc. up 4.693% at $3675.74, DEXCOM Inc. up 2.099% at $440.65, HOLOGIC Inc. up 1.935% to $69.02, NOV Inc. down 6.314% to $14.54, APPLE Inc. up 1.472% to $142.02, NETFLIX Inc. up 1.435% at $541.64.

Economic news:

US: The United States on Tuesday urged China and the private sector to increase their participation in a G20 debt moratorium for low-income countries hammered by the COVID-19 pandemic, and a common framework for restructuring their debts.

A senior U.S. Treasury official said Washington was open to expanding the common framework for debt treatment agreed by the G20 and the Paris Club beyond just low-income countries to include small island states, fragile states and even some lower middle-income countries with high debt burdens.

G20 finance officials will review progress on the debt issue when they meet in Venice on July 9-10, amid growing alarm about a looming debt crisis.

The head of the International Monetary Fund, Kristalina Georgieva, has warned repeatedly about a “dangerous divergence” in the pandemic response and economic prospects that could leave developing countries lagging far behind for years.

Some Chinese entities had not participated fully in the G20 Debt Service Suspension Initiative, or debt freeze, and Washington was urging Beijing to participate more fully in both initiatives, such as provide more data to other creditors.

Eurozone: Many fund managers fall short in assessing the value of their funds and regulatory action may be needed, Britain’s Financial Conduct Authority said on Tuesday as part of a longstanding crackdown on unjustified fees.

A review of 18 fund managers between July 2020 and May 2021 found most had not implemented FCA standards on assessments of value, the watchdog said in a statement.

An assessment is required at least once a year and is key in determining whether fees charged by funds are justified.

While some funds conducted their assessments well, too many often-made assumptions that they could not justify to the regulator, the FCA said.

“When considering a fund’s performance, many firms did not consider what the fund should deliver given its investment policy, investment strategy and fees,” the FCA said. Important Data: US JOLTs Job Openings (May) today at 10:00 this time estimated 9.388M, previously which was 9.286M. CANADA Ivey PMI (Jun) today at 10:00 previously which was 68.7. RUSSIA CPI (YoY) (Jun) today at 12:00 this time estimated 6.3%, previously which was 6.0%. JAPAN Current Account n.s.a. (May) today at 19:50 this time estimated 1.82T, previously which was 1.322T.  

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.38082, TAKE PROFIT AT 1.3786 AND STOP LOSS AT 1.38297

EURUSD

TRADE SUGGESTION- SELL AT 1.18219, TAKE PROFIT AT 1.18022 AND STOP LOSS AT 1.18424

USDJPY

TRADE SUGGESTION- SELL AT 110.682, TAKE PROFIT AT 110.570 AND STOP LOSS AT 110.858

USDMXN

TRADE SUGGESTION- SELL AT 19.964, TAKE PROFIT AT 19.90 AND STOP LOSS AT 20.03

DJ EURO STOXX 50

TRADE SUGGESTION- SELL AT 4056.00 TAKE PROFIT AT 4042.00 AND STOP LOSS AT 4072.00

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 74.15 TAKE PROFIT AT 74.72 AND STOP LOSS AT 73.78

GOLD

TRADE SUGGESTION- BUY AT 1801.72, TAKE PROFIT AT 1804.97 AND STOP AT 1799.00

BTCUSD

TRADE SUGGESTION- BUY AT 34703.00 TAKE PROFIT AT 35549.54 AND STOP AT 33787.64

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