Technical Analysis Report Today – 09 August 2021

Technical Analysis

Technical Analysis Report Today – 09 August 2021

Asian shares wobbled on Monday amid sharp losses in gold and oil prices. The Shanghai composite is up 1.08% at 3,495.15. Overall, the Singapore MSCI down 0.11% at 362.70. Over in Hong Kong, the Hang Seng Index up 0.66% at 26,302. In Japan, the Nikkei 225 up 0.11% at 27,870, while the Topix index is up 0.23% at 1935.5. South Korea’s Kospi down 0.04% to 3269.01. Australia S&P/ASX 200 up 0.09% at 7544.9.

European equities Friday closing. The DAX futures contract in Germany traded up 0.11% at 15761.45, CAC 40 futures up 0.53% at 6816.97 and the UK 100 futures contract in the U.K. up 0.04% at 7,122.96.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.41% at 35208.52. The S&P 500 up 0.17% to 4436.51 and the Nasdaq 100 down 0.26% at 15064.3, NYSE closes at 16748.07 up 0.31%.

In the Forex market, GBPUSD up 0.04% at 1.38713. The USDJPY down 0.02% at 110.188. The USDCHF up 0.04% at 0.91480. EURUSD up 0.04% at 1.17635, EUR/GBP up 0.09% at 0.84803. The USD/CNY down 0.12% at 6.4754, at the time of writing.

In the commodity market U.S. Gold futures down 1.00% at $1,744.97. Elsewhere, Silver futures down 1.57% to $23.927 per ounce, Platinum flat at $980.02 per ounce, and Palladium down 0.01% to $2,628.13.

Crude Oil down on Monday; Brent crude oil down 1.32% at $69.35 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.67% at $69.44.

In the Cryptocurrency Markets, BTCUSD at 43450.00 down 0.93%, Ethereum at 2929.01 down 2.86%, Litecoin at 148.45 down 0.95%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Ball Corp. up 5.521% at $85.24, Wells Fargo & Co. up 3.788% at $48.77,

Illumina Inc. down 3.576% to $497.24, Twitter Inc. down 2.757% to $67.37,

eBay Inc. down 2.661% to $65.49, Tesla Inc. down 2.173% at $699.10.

Economic news:

US: The U.S. Senate on Sunday took two more steps toward passing a $1 trillion bipartisan infrastructure bill by blessing the details of the largest U.S. investment in roads and bridges in decades and by moving to limit debate on the overall measure.

In a 69-28 vote, 19 Republicans joined 48 Democrats and two independents to support the provisions of a compromise that was the result of painstaking negotiations by a group of Republicans and Democrats.

The Senate also voted 68-29 to limit debate on the overall bill, which could put it on track for a vote on passage sometime Monday or Tuesday, and, in turn, send it to the House of Representatives.

The legislation is a top priority for Democratic President Joe Biden. Its passage, which remains likely after a large Senate majority has repeatedly voted to advance it, would be a major victory for him and the bipartisan lawmakers who crafted it.

Both the Senate and House are narrowly controlled by the Democrats.

Eurozone: The European Central Bank must tighten monetary policy if it needs to counter inflationary pressures and cannot be put off from doing so by the financing costs of euro zone states, ECB policymaker Jens Weidmann told the Welt am Sonntag newspaper.

Euro zone countries have ramped up their borrowing to cope with the coronavirus pandemic, potentially leaving them exposed to increased debt servicing costs if the central bank tightens policy to counter upward pressure on prices.

“The ECB is not there to take care of the solvency protection of the states,” said Weidmann, whose role as president of Germany’s Bundesbank gives him a seat on the ECB’s policymaking Governing Council.

Should the inflation outlook rise sustainably, the ECB would have to act in line with its price stability objective, Weidmann said. “We have to make it clear again and again that we will tighten monetary policy if the price outlook calls for it.

“We cannot then take into account the financing costs of the states,” he added.

Important Data: US JOLTs Job Openings (Jun) today at 10:00 this time estimated 9.27M, previously which was 9.209M. UK BRC Retail Sales Monitor (YoY) (Jul) today at 19:01 previously which was 6.7%. JAPAN Current Account n.s.a. (Jun) today at 19:50 this time estimated 0.78T, previously which was 1.98T. AUSTRALIA NAB Business Confidence (Jul) today at 21:30 previously which was 11.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.38722, TAKE PROFIT AT 1.38938 AND STOP LOSS AT 1.38536

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.17594, TAKE PROFIT AT 1.17495 AND STOP LOSS AT 1.17720

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 152.837, TAKE PROFIT AT 153.186 AND STOP LOSS AT 152.596

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 120.343, TAKE PROFIT AT 120.135 AND STOP LOSS AT 120.561

DOW JONES 

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 35005.00 TAKE PROFIT AT 35104.00 AND STOP LOSS AT 34963.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 66.56 TAKE PROFIT AT 66.16 AND STOP LOSS AT 67.35

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1746.05, TAKE PROFIT AT 1730.32 AND STOP AT 1758.41

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 148.26 TAKE PROFIT AT 165.57 AND STOP AT 141.61

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