Technical Analysis Report Today – 07 September 2021

Technical Analysis

Technical Analysis Report Today – 07 September 2021

Asia Pacific stocks were mostly down on Tuesday morning. The Shanghai composite is up 1.47% at 3,675.30. Overall, the Singapore MSCI down 0.54% at 358.45. Over in Hong Kong, the Hang Seng Index up 0.99% at 26,335. In Japan, the Nikkei 225 up 0.61% at 29,930, while the Topix index is up 0.95% at 2064.5. South Korea’s Kospi down 0.47% to 3188.25. Australia S&P/ASX 200 down 0.06% at 7524.2.

European equities Monday closing. The DAX futures contract in Germany traded up 0.96% at 15932.12, CAC 40 futures up 0.80% at 6743.51 and the UK 100 futures contract in the U.K. up 0.68% at 7,187.19.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.21% at 35369.10. The S&P 500 down 0.03% at 4535.42 and the Nasdaq 100 up 0.18% at 15683.8, NYSE closes at 16909.72 down 0.10%.

In the Forex market, GBPUSD down 0.04% at 1.38243. The USDJPY up 0.08% at 109.897. The USDCHF up 0.08% at 0.91537. EURUSD down 0.01% at 1.18667, EUR/GBP up 0.12% at 0.85831. The USD/CNY down 0.10% at 6.4572 at the time of writing.

In the commodity market U.S. Gold futures down 0.37% at $1,816.26. Elsewhere, Silver futures down 0.60% to $24.527 per ounce, Platinum down 0.46% at $1018.00 per ounce, and Palladium down 0.22% at $2,405.83.

Crude Oil mix on Tuesday; Brent crude oil up 0.69% at $72.58 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.71% at $69.51.

In the Cryptocurrency Markets, BTCUSD at 52540.00 down 0.32%, Ethereum down 0.40% at 3912.52, Litecoin at 219.14 down 0.20%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Moderna Inc. up 4.788% at $416.70, ETSY Inc. up 3.227% at $220.38, NVIDIA Corp. up 1.996% to $228.43, Carnival Corp. down 4.413% to $22.96, Nov Inc. down 2.778% to $12.95, Discovery Inc. down 2.267% at $27.16.

Economic news:

US: U.S. job growth slowed more than expected in August amid a softening in demand for services and persistent worker shortages as COVID-19 infections soared, but the pace was enough to sustain the economic expansion.

Nonfarm payrolls increased by 235,000 jobs last month after surging 1.053 million in July, the Labor Department said on Friday. The unemployment rate fell to 5.2% from 5.4%. Economists polled by Reuters had forecast nonfarm payrolls increasing by 728,000 jobs and the unemployment rate falling to 5.2%.

Eurozone: German industrial output rose more than expected in July after three monthly drops, data showed on Tuesday, in a sign that factories are slowly overcoming supply bottlenecks which have been holding back a recovery in Europe’s biggest economy.

The Federal Statistics Office said industrial output, including construction and energy, increased by 1.0% on the month after a revised decline of -1.0% in June. A Reuters poll had pointed to a rise of 0.9%.

Output in manufacturing alone jumped by 1.3% as factories churned out more capital and consumer goods. Construction output rose 1.1% while production in the energy sector fell 3.2%.

“After the decline in industrial production in the second quarter, the third quarter got off to a friendly start,” the economy ministry said.

The mighty automobile industry increased its output by 1.9% and the machinery and engineering sector hiked production by 6.9%, the ministry said.

“Even if the supply bottlenecks with semiconductors, which have slowed down production, are likely to persist for a while, the output figures suggest that industry could have overcome its low point,” the ministry added.

Important Data: EURO ZONE GDP (QoQ) (Q2) today at 5:00 this time estimated 2.0%, previously which was 2.0%. JAPAN GDP (QoQ) (Q2) today at 19:50 this time estimated 0.4%, previously which was 0.3%. Germany ZEW Economic Sentiment (Sep) today at 5:00 this time estimated 30.0, previously which was 40.4. JAPAN Current Account n.s.a. (Jul) today at 19:50 this time estimated 2.3T, previously which was 0.905T.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.38253, TAKE PROFIT AT 1.38568 AND STOP LOSS AT 1.38103

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.18667, TAKE PROFIT AT 1.18886 AND STOP LOSS AT 1.18517

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.85785, TAKE PROFIT AT 0.85919 AND STOP LOSS AT 0.85718

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 130.448, TAKE PROFIT AT 130.558 AND STOP LOSS AT 130.395

DOW JONES 

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 35374.0 TAKE PROFIT AT 35475.0 AND STOP LOSS AT 35258.0

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 68.95 TAKE PROFIT AT 68.33 AND STOP LOSS AT 69.52

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1819.75, TAKE PROFIT AT 1824.69 AND STOP AT 1814.05

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3895.45 TAKE PROFIT AT 4020.00 AND STOP AT 3825.62

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