Technical Analysis Report Today – 10 June 2021

Technical Analysis

Technical Analysis Report Today – 10 June 2021

Asia Pacific stocks were up Thursday morning. The Shanghai composite is up 0.45% at 3,607.52. Overall, the Singapore MSCI up 0.38% at 360.00. Over in Hong Kong, the Hang Seng Index up 0.07% to 28,732. In Japan, the Nikkei 225 up 0.42% at 28,960, while the Topix index is up 0.08% at 1956.0. South Korea’s Kospi up 0.36% to 3227.93. Australia S&P/ASX 200 up 0.50% at 7306.4.

European equities Wednesday closing. The DAX futures contract in Germany traded 0.38% down at 15581.14, CAC 40 futures up 0.19% at 6563.46 and the UK 100 futures contract in the U.K. up 0.23% at 7,097.30.

In U.S. on Wall Street, the Dow Jones Industrial Average closed flat at 34447.15 the S&P 500 down 0.18% to 4219.54 and the Nasdaq 100 up 0.05% at 13819.10, NYSE closes at 16620.00 down 0.39%.

In the Forex market, GBPUSD down 0.05% at 1.41053. The USDJPY down 0.03% at 109.558. The USDCHF up 0.05% at 0.89596. EURUSD down 0.11% at 1.21646, EUR/GBP down 0.06% at 0.86231. The USD/CNY down 0.05% at 6.3845, at the time of writing.

In the commodity market U.S. Gold futures down 0.27% at $1,883.51. Elsewhere, Silver futures down 0.41% to $27.637 per ounce, Platinum down 0.93% at $1139.97 per ounce, and Palladium up 0.16% to $2,776.90.

Crude Oil down on Thursday; Brent crude oil down 0.49% to $71.69 barrel while U.S. West Texas Intermediate (CLc1) is down 0.06% at $69.49.

In the Cryptocurrency Markets, BTCUSD at 36677.06 down 1.93%, Ethereum at 2529.79 down 3.15%, Litecoin at 168.35 down 1.87%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Top 5 Stock
Top 5 Stock

PFIZER Inc. up 2.471% at $39.81, BIOGEN Inc. up 2.926% at $406.94, FEDEX Corp. down 3.13% to $293.11, NETEASE Inc. down 2.57% to $110.32, NETFLIX Inc. down 1.336% to $485.81, APPLE Inc. up 0.308% at $127.13.

Economic news:

US: The number of Americans filing new claims for unemployment benefits likely fell last week to the lowest level in nearly 15 months, while consumer prices increased further in May as the pandemic’s easing grip on the economy continues to boost demand.

The Labor Department is likely to report on Thursday that initial claims for state unemployment benefits totalled a seasonally adjusted 370,000 for the week ended June 5, compared to 385,000 in the prior week, according to a Reuters survey of economists.

That would be the lowest since mid-March 2020 when the first wave of COVID-19 infections barrelled through the country, leading to closures of nonessential businesses, and mark the sixth straight weekly decline.

Layoffs are abating, with employers scrambling for labour as millions of unemployed Americans remain at home because of trouble securing child care, generous unemployment benefits and lingering fears of the virus even though vaccines are now widely accessible.

Eurozone: The European Central Bank is all but certain to maintain a generous flow of stimulus when policymakers meet on Thursday, fearing that higher borrowing costs could smother a still nascent recovery.

Just emerging from a pandemic-induced double-dip recession, the 19-country euro zone economy has relied on unprecedented ECB stimulus to stay afloat. And even as growth surges with the easing of COVID-19 restrictions, policymakers appear keen to err on the side of caution.

Recent comments from ECB President Christine Lagarde and board member Fabio Panetta suggest the June discussion effectively ended even before Thursday’s meeting, with a cut in bond purchases unlikely, even if policymakers acknowledge an improvement in growth prospects and the rapid pace of vaccinations.

Panetta flatly rejected any reduction in emergency bond buys while Lagarde said it was “far too early” to discuss tapering the bank’s 1.85 trillion-euro Pandemic Emergency Purchases Programme (PEPP).

Important Data: US Core CPI (MoM) (May) today at 8:30 this time estimated 0.4%, previously which was 0.9%. EURO ZONE ECB Interest Rate Decision (Jun) today at 7:45 this time estimated 0.0%, previously which was 0.0%. US Initial Jobless Claims today at 8:30 this time estimated 370K, previously which was 385K. JAPAN BSI Large Manufacturing Conditions (Q2) today at 19:50 previously which was 1.6.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.41098, TAKE PROFIT AT 1.40956 AND STOP LOSS AT 1.41311

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.21652, TAKE PROFIT AT 1.21553 AND STOP LOSS AT 1.21792

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 109.459, TAKE PROFIT AT 109.678 AND STOP LOSS AT 109.303

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.8959, TAKE PROFIT AT 0.89517 AND STOP LOSS AT 0.8968

CAC 40

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 6550.1 TAKE PROFIT AT 6570.5 AND STOP LOSS AT 6538.4

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 69.57 TAKE PROFIT AT 69.76 AND STOP LOSS AT 69.41

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1879.80, TAKE PROFIT AT 1872.82 AND STOP AT 1884.18

RIPPLE

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.8879 TAKE PROFIT AT 0.8577 AND STOP AT 0.9476

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