Technical Analysis Report Today – 09 September 2021

Technical Analysis

Technical Analysis Report Today – 09 September 2021

Asia Pacific stocks were mostly down on Thursday morning. The Shanghai composite is up 0.09% at 3,678.52. Overall, the Singapore MSCI down 0.48% at 352.40. Over in Hong Kong, the Hang Seng Index down 1.77% at 25,750. In Japan, the Nikkei 225 down 0.54% at 29,970, while the Topix index is down 0.72% at 2063.5. South Korea’s Kospi down 1.43% to 3118.45. Australia S&P/ASX 200 down 1.91% at 7368.6.

European equities Wednesday closing. The DAX futures contract in Germany traded down 1.47% at 15610.28, CAC 40 futures down 0.85% at 6668.90 and the UK 100 futures contract in the U.K. down 0.50% at 7,045.80.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.20% at 35031.08. The S&P 500 down 0.13% at 4514.08 and the Nasdaq 100 down 0.21% at 15578.23, NYSE closes at 16731.04 down 0.42%.

In the Forex market, GBPUSD down 0.01% at 1.37694. The USDJPY down 0.15% at 110.06. The USDCHF down 0.16% at 0.91969. EURUSD up 0.08% at 1.18223, EUR/GBP up 0.11% at 0.85851. The USD/CNY down 0.02% at 6.4601 at the time of writing.

In the commodity market U.S. Gold futures down 0.07% at $1,788.08. Elsewhere, Silver futures down 0.23% to $23.880 per ounce, Platinum up 0.12% at $979.17 per ounce, and Palladium up 0.11% at $2,253.92.

Crude Oil up on Thursday; Brent crude oil up 0.28% at $72.86 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.90% at $69.52.

In the Cryptocurrency Markets, BTCUSD at 46131.31 up 0.09%, Ethereum down 0.13% at 3489.00, Litecoin at 182.11 up 1.66%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Kraft Heinz Co. up 3.926% at $37.06, Carmax Inc. up 3.522% at $131.39, Twitter Inc. down 4.171% to $62.27, Discovery Inc. down 3.505% to $26.98, Baidu Inc. down 2.4% to $162.68, DocuSign Inc. down 3.383% at $281.64.

Economic news:

US: Several Federal Reserve policymakers on Wednesday signaled that the U.S. central bank remains on track to trimming its massive asset purchases this year, despite the slowdown in jobs growth seen in August and the impact of the recent COVID-19 resurgence.

“The big picture is that the taper will get going this year and will end sometime by the first half of next year,” said St. Louis Fed Bank President James Bullard in an interview with the Financial Times https://www.ft.com/content/7c2fc0ce-e7c0-4083-92e8-e81d9235ab45.

Bullard dismissed concerns that the labor market recovery was faltering after the U.S. economy in August created the fewest jobs in seven months. He said the labor market could be “very strong” going into next year if the fight against the pandemic continues to improve.

Dallas Fed President Robert Kaplan in a separate appearance said he still supports a gradual wind down of monthly asset purchases starting in October, as long as the economic outlook does not fundamentally change.

Eurozone: The European Central Bank is expected to claw back stimulus on Thursday, taking a token step towards unwinding the emergency aid put in place during the pandemic while still signalling copious support for years to come.

The ECB pulled out all the stops to prop up the economy as the novel coronavirus closed businesses and kept people at home last year. But with unemployment falling and inflation rebounding as normal life resumes, policymakers are under pressure to formally acknowledge that the worst is over.

Any move is likely be at the margins however, reflecting central bankers’ fear that cutting support prematurely would undo years of stimulus – a dangerous prospect for the ECB, already struggling with a credibility deficit after nearly a decade of undershooting its inflation target.

Inflation is now at a 10-year high but is expected to fall sharply early next year and again languish below the ECB’s 2% target through 2023, an outlook likely to be confirmed by new, somewhat improved, economic projections by the ECB on Thursday.

Important Data: US Initial Jobless Claims today at 8:30 this time estimated 335K, previously which was 340K. US Crude Oil Inventories today at 11:00 this time estimated -4.612M, previously which was -7.169M. EUROZONE Deposit Facility Rate (Aug) today at 07:45 this time estimated -0.5%, previously which was -0.5%. US Cushing Crude Oil Inventories today at 11:00 previously which was 0.836M.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.37665, TAKE PROFIT AT 1.37275 AND STOP LOSS AT 1.37854

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.18120, TAKE PROFIT AT 1.18308 AND STOP LOSS AT 1.17888

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 109.975, TAKE PROFIT AT 110.124 AND STOP LOSS AT 109.856

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.92036, TAKE PROFIT AT 0.92203 AND STOP LOSS AT 0.91882

NIKKEI 225

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 29789.0 TAKE PROFIT AT 29986.0 AND STOP LOSS AT 29503.0

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 69.29 TAKE PROFIT AT 69.84 AND STOP LOSS AT 68.41

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1791.12, TAKE PROFIT AT 1782.05 AND STOP AT 1797.02

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 46121.96 TAKE PROFIT AT 43896.38 AND STOP AT 48011.57

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