Technical Analysis Report Today – 07 June 2021

Technical Analysis

Technical Analysis Report Today – 07 June 2021

Asian shares turned sluggish on Monday. The Shanghai composite is down 0.05% at 3,589.65. Overall, the Singapore MSCI up 1.13% at 361.00. Over in Hong Kong, the Hang Seng Index down 0.45% to 28,677. In Japan, the Nikkei 225 up 0.37% at 29,040, while the Topix index is up 0.33% at 1960.5. South Korea’s Kospi up 0.28% to 3248.74. Australia S&P/ASX 200 down 0.08% at 7289.7.

European equities Friday closing. The DAX futures contract in Germany traded 0.39% up at 15692.90, CAC 40 futures up 0.12% at 6515.67 and the UK 100 futures contract in the U.K. down 0.11% at 7,070.40.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.01% at 34756.40 the S&P 500 up 0.88% to 4229.88 and the Nasdaq 100 up 1.78% at 13770.77, NYSE closes at 16708.74 up 0.46%.

In the Forex market, GBPUSD down 0.06% at 1.41424. The USDJPY up 0.01% at 109.494. The USDCHF up 0.04% at 0.89938. EURUSD down 0.04% at 1.21621, EUR/GBP up 0.18% at 0.85995. The USD/CNY up 0.10% at 6.4010, at the time of writing.

In the commodity market U.S. Gold futures down 0.23% at $1,885.89. Elsewhere, Silver futures down 0.76% to $27.579 per ounce, Platinum up 0.43% at $1166.87 per ounce, and Palladium down 0.21% to $2,839.03.

Crude Oil mix on Monday; Brent crude oil down 0.49% to $71.25 barrel while U.S. West Texas Intermediate (CLc1) is up 0.89% at $69.35.

In the Cryptocurrency Markets, BTCUSD at 36407.74 up 1.61%, Ethereum at 2791.38 up 2.98%, Litecoin at 180.14 up 2.25%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Top 5 Stock
Top 5 Stock

BIOGEN Inc. up 4.986% at $286.14, AUTO DESK Inc. up 3.756% at $284.78, TWITTER Inc. up 3.491% to $59.00, INTEL Corp. up 2.009% to $57.37, 3M Co. up 1.169% to $206.05, TESLA Inc. up 4.575% at $599.05.

Economic news:

US: U.S. Treasury Secretary Janet Yellen said that President Joe Biden’s $4 trillion spending plan would be good for the U.S., even if it contributes to rising inflation and results in higher interest rates, Bloomberg News reported.

“If we ended up with a slightly higher interest rate environment it would actually be a plus for society’s point of view and the Fed’s point of view,” Yellen said in an interview with the outlet on Sunday.

“We’ve been fighting inflation that’s too low and interest rates that are too low now for a decade,” the report quoted Yellen as saying.

“We want them to go back to” a normal interest rate environment, “and if this helps a little bit to alleviate things then that’s not a bad thing- that’s a good thing,” Yellen added.

Eurozone: Britain is enjoying a strong economic bounce-back as COVID restrictions lift, though pubs and restaurants are recovering faster than town-centre retail, Bank of England Deputy Governor Jon Cunliffe said on Friday.

“What we’re seeing is a strong bounce back of activity,” Cunliffe told BBC Radio Suffolk after speaking to businesses in that region of eastern England.

“People have accumulated a lot of savings, they’re going out and they’re spending, particularly in those areas we couldn’t go out in the last year or so,” he added

Important Data: JAPAN GDP (QoQ) (Q1) today at 19:50 this time estimated -1.2%, previously which was 2.8%. RUSSIA CPI (MoM) (May) today at 12:00 this time estimated 0.6%, previously which was 0.6%. UK BRC Retail Sales Monitor (YoY) (May) today at 19:01 previously which was 39.6%. US Consumer Credit (Apr) today at 15:00 this time estimated 21B, previously which was 25.84B.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.41208, TAKE PROFIT AT 1.40961 AND STOP LOSS AT 1.41492

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.21566, TAKE PROFIT AT 1.21466 AND STOP LOSS AT 1.21707

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 109.487, TAKE PROFIT AT 109.718 AND STOP LOSS AT 109.312

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.89965, TAKE PROFIT AT 0.89798 AND STOP LOSS AT 0.90114

DOW JONES

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 34715 TAKE PROFIT AT 34811 AND STOP LOSS AT 34657

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 69.08 TAKE PROFIT AT 69.31 AND STOP LOSS AT 69.01

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1883.40, TAKE PROFIT AT 1872.77 AND STOP AT 1889.33

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 2764.82 TAKE PROFIT AT 2810.57 AND STOP AT 2705.80

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