Technical Analysis Report Today – 09 June 2021

Technical Analysis

Technical Analysis Report Today – 09 June 2021

Asia Pacific stocks were mostly down Wednesday morning. The Shanghai composite is up 0.14% at 3,584.32. Overall, the Singapore MSCI down 0.48% at 359.20. Over in Hong Kong, the Hang Seng Index down 0.18% to 28,629. In Japan, the Nikkei 225 down 0.65% at 28,870, while the Topix index is down 0.48% at 1956.0. South Korea’s Kospi down 0.86% to 3220.04. Australia S&P/ASX 200 down 0.24% at 7275.4.

European equities Tuesday closing. The DAX futures contract in Germany traded 0.23% down at 15640.60, CAC 40 futures up 0.11% at 6551.02 and the UK 100 futures contract in the U.K. down 0.29% at 7,082.10.

In U.S. on Wall Street, the Dow Jones Industrial Average closed flat at 34599.83 the S&P 500 up 0.02% to 4227.25 and the Nasdaq 100 flat at 13813.00, NYSE closes at 16685.47 down 0.01%.

In the Forex market, GBPUSD up 0.03% at 1.41555. The USDJPY flat at 109.405. The USDCHF down 0.03% at 0.89645. EURUSD up 0.06% at 1.21805, EUR/GBP up 0.12% at 0.86042. The USD/CNY down 0.10% at 6.3939, at the time of writing.

In the commodity market U.S. Gold futures down 0.01% at $1,891.70. Elsewhere, Silver futures down 0.16% to $27.573per ounce, Platinum down 0.28% at $1158.73 per ounce, and Palladium down 0.30% to $2,800.50.

Crude Oil up on Wednesday; Brent crude oil up 0.64% to $72.50 barrel while U.S. West Texas Intermediate (CLc1) is up 0.71% at $69.53.

In the Cryptocurrency Markets, BTCUSD at 33758.02 up 1.10%, Ethereum at 2517.76 up 0.28%, Litecoin at 159.05 down 1.09%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Top 5 Stock
Top 5 Stock

GAP Inc. up 2.871% at $32.25, EQUINIX Inc. up 2.717% at $816.66, DISCOVERY Inc. down 3.841% to $30.04, KLA Corp. down 1.491% to $313.8, SPLUNK Inc. up 1.227% to $117.11, MODERNA Inc. down 2.992% at $213.00.

Economic news:

US: The United States will target China with a new “strike force” to combat unfair trade practices, the Biden administration said on Tuesday, as it rolled out findings of a review of access to critical products, from semiconductors to electric-vehicle batteries.

The “supply chain trade strike force,” led by the U.S. trade representative, is looking for specific violations that contributed to a hollowing out of supply chains that could be addressed with tariffs or other remedies, including toward China, White House senior director for international economics and competitiveness Peter Harrell told reporters.

Officials also said the Department of Commerce is considering initiating a Section 232 investigation into the national security impact of neodymium magnet imports used in motors and other industrial applications, which the United States largely obtains from China.   

President Joe Biden ordered the review of critical supply chains in February, requiring executive agencies to report back within 100 days on risks to U.S. access to critical goods like those used in pharmaceuticals as well as rare earth minerals, for which the United States is dependent on overseas sources.

Eurozone: Britain will tell the European Union on Wednesday time is running out to find solutions to ease post-Brexit trade with Northern Ireland, saying any further legal action by the bloc would not “make life any easier” for people in the province.

Since completing its exit from the EU late last year, Britain’s relations with it have soured, with both sides accusing each other of acting in bad faith over part of their trade deal that covers goods movements to Northern Ireland.

British Brexit minister David Frost will meet European Commission Vice President Maros Sefcovic in London to try to resolve the differences over the Northern Ireland protocol, but so far months of talks have done little to break the deadlock.

Brussels accuses London of breaking the agreement by failing to implement checks on some goods moving from Britain to its province of Northern Ireland, and has started legal action over the British government’s unilateral extension of a grace period.

London says it has no choice because some of the checks hamper supplies to Northern Irish supermarkets. It points to rising tensions among pro-British unionists in the province.

Important Data: CANADA BoC Interest Rate Decision today at 10:00 this time estimated 0.25%, previously which was 0.25%. US Crude Oil Inventories today at 10:30 this time estimated -2.036M, previously which was -5.080B. UK RICS House Price Balance (May) today at 19:01 this time estimated 77%, previously which was 75%. AUSTRALIA HIA New Home Sales (MoM) today at 20:00 previously which was -54.4%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.41725, TAKE PROFIT AT 1.41955 AND STOP LOSS AT 1.41460

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.21747, TAKE PROFIT AT 1.21663 AND STOP LOSS AT 1.21895

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 155.086, TAKE PROFIT AT 155.247 AND STOP LOSS AT 154.821

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 121.984, TAKE PROFIT AT 122.211 AND STOP LOSS AT 121.871

FTSE 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 7097.5 TAKE PROFIT AT 7111.9 AND STOP LOSS AT 7089.8

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 70.33 TAKE PROFIT AT 71.86 AND STOP LOSS AT 69.42

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1891.76, TAKE PROFIT AT 1901.39 AND STOP AT 1885.92

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 160.39 TAKE PROFIT AT 146.21 AND STOP AT 169.56

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