Technical Analysis Report Today – 08 September 2021

Technical Analysis

Technical Analysis Report Today – 08 September 2021

Asia Pacific stocks were mostly down on Wednesday morning. The Shanghai composite is down 0.04% at 3,675.29. Overall, the Singapore MSCI down 1.11% at 354.80. Over in Hong Kong, the Hang Seng Index down 0.01% at 26,222. In Japan, the Nikkei 225 up 0.94% at 30,170, while the Topix index is up 0.66% at 2077.0. South Korea’s Kospi down 0.82% to 3161.33. Australia S&P/ASX 200 down 0.42% at 7498.6.

European equities Tuesday closing. The DAX futures contract in Germany traded down 0.56% at 15843.09, CAC 40 futures down 0.26% at 6726.08 and the UK 100 futures contract in the U.K. up 0.07% at 7,128.60.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.76% at 35100.01. The S&P 500 down 0.34% at 4520.02 and the Nasdaq 100 up 0.04% at 15677.4, NYSE closes at 16801.17 down 0.64%.

In the Forex market, GBPUSD down 0.14% at 1.37632. The USDJPY up 0.15% at 110.421. The USDCHF up 0.12% at 0.92042. EURUSD down 0.05% at 1.18325, EUR/GBP up 0.14% at 0.85967. The USD/CNY down 0.05% at 6.4628 at the time of writing.

In the commodity market U.S. Gold futures up 0.17% at $1,797.11. Elsewhere, Silver futures up 0.15% to $24.342 per ounce, Platinum up 0.61% at $1005.37 per ounce, and Palladium down 0.29% at $2,368.63.

Crude Oil mix on Wednesday; Brent crude oil up 0.66% at $71.99 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.88% at $68.90.

In the Cryptocurrency Markets, BTCUSD at 45744.16 down 2.69%, Ethereum down 2.00% at 3358.71, Litecoin at 177.11 down 0.73%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Moderna Inc. up 4.725% at $436.39, Netflix Inc. up 2.74% at $606.71, Tesla Inc. up 2.638% to $752.92, Carnival Corp. up 2.613% to $23.56, 3M Co. down 4.532% to $185.58, Whirlpool Corp. down 3.728% at $217.45.

Economic news:

US: The dollar rose on Tuesday, moving further off a near-one-month low hit last week, as rising U.S. Treasury yields prompted investors to cut short dollar positions against the euro before a European Central Bank meeting this week.

Cryptocurrencies, including Bitcoin, also dropped sharply in volatile trading as several trading platforms said they experienced performance issues.

On Friday, the greenback tumbled to its lowest levels since early August after a surprisingly soft U.S. payrolls report prompted analysts to raise bets the Federal Reserve will not unwind its stimulus plans in coming months.

But the dollar has gained in the past two sessions. The greenback rose 0.33% on Tuesday to 92.42, after touching its lowest since Aug. 4 on Friday.

Eurozone: British Prime Minister Boris Johnson set out plans on Tuesday to raise taxes on workers, employers and some investors to try to fix a health and social care funding crisis, angering some in his governing party by breaking election promises.

After spending huge amounts of money to fight the COVID-19 pandemic, Johnson is returning to an election pledge to address Britain’s creaking social care system, where costs are projected to double as the population ages over the next two decades.

He also moved to try to tackle a backlog in Britain’s health system, which has seen millions waiting months for treatment from the state-run National Health Service, after resources were refocused to deal with COVID-19.

“It would be wrong for me to say that we can pay for this recovery without taking the difficult but responsible decisions about how we finance it,” Johnson told parliament.

Important Data: CANADA BoC Interest Rate Decision today at 10:00 this time estimated 0.25%, previously which was 0.25%. CANADA Ivey PMI (Aug) today at 10:00 previously which was 56.4. US API Weekly Crude Oil Stock today at 16:30 previously which was -4.045M. UK RICS House Price Balance (Aug) today at 19:01 this time estimated 75%, previously which was 79%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.37634, TAKE PROFIT AT 1.37336 AND STOP LOSS AT 1.37913

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.18306, TAKE PROFIT AT 1.18516 AND STOP LOSS AT 1.18130

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 151.877, TAKE PROFIT AT 152.142 AND STOP LOSS AT 151.756

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 119.902, TAKE PROFIT AT 119.728 AND STOP LOSS AT 120.137

DAX 30

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 15664.0 TAKE PROFIT AT 15588.5 AND STOP LOSS AT 15708.2

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 68.64 TAKE PROFIT AT 68.16 AND STOP LOSS AT 69.45

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1799.22, TAKE PROFIT AT 1793.32 AND STOP AT 1805.83

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 173.86 TAKE PROFIT AT 164.57 AND STOP AT 183.06

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