Technical Analysis Report Today – 11 August 2021

Technical Analysis Report Today – 11 August 2021

Asia Pacific stocks were mostly up on Wednesday morning. The Shanghai composite is up 0.15% at 3,534.94. Overall, the Singapore MSCI down 1.06% at 363.80. Over in Hong Kong, the Hang Seng Index up 0.33% at 26,553. In Japan, the Nikkei 225 up 0.65% at 28,030, while the Topix index is up 0.93% at 1952.5. South Korea’s Kospi down 0.70% to 3220.57. Australia S&P/ASX 200 up 0.24% at 7580.9.

European equities Tuesday closing. The DAX futures contract in Germany traded up 0.16% at 15770.71, CAC 40 futures up 0.10% at 6820.20 and the UK 100 futures contract in the U.K. up 0.40% at 7,161.05.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.46% at 35264.68. The S&P 500 up 0.10% to 4436.74 and the Nasdaq 100 down 0.06% at 15049.9, NYSE closes at 16792.77 up 0.39%.

In the Forex market, GBPUSD down 0.06% at 1.38252. The USDJPY up 0.12% at 110.693. The USDCHF up 0.12% at 0.92298. EURUSD down 0.02% at 1.17154, EUR/GBP up 0.12% at 0.84738. The USD/CNY down 0.05% at 6.4826, at the time of writing.

In the commodity market U.S. Gold futures up 0.31% at $1,734.43. Elsewhere, Silver futures up 0.45% to $23.400 per ounce, Platinum up 0.93% at $1007.31 per ounce, and Palladium up 0.02% to $2,648.00.

Crude Oil mix on Wednesday; Brent crude oil down 0.28% at $70.66 per barrel while U.S. West Texas Intermediate (CLc1) is up 1.39% at $69.41.

In the Cryptocurrency Markets, BTCUSD at 45903.04 up 0.64%, Ethereum at 3185.03 up 1.36%, Litecoin at 171.76 up 3.70%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Nucor Corp. up 9.575% at $118.10, Pfizer Inc. up 4.806% at $48.19, Gap Inc. up 4.412% to $30.29, Moderna Inc. down 5.72% to $456.75, Dexcom Inc. down 3.408% to $499.94, Western Digital Corp. down 3.121% at $65.50.

Economic news:

US: The Democratic-controlled U.S. Senate on Tuesday passed a massive infrastructure bill and immediately kicked off debate on a $3.5 trillion spending blueprint for President Joe Biden’s key priorities on climate change, universal preschool and affordable housing.

The bipartisan $1 trillion infrastructure bill which the 100-member chamber passed in a 69-30 vote, could provide the nation’s biggest investment in decades in roads, bridges, airports and waterways.

With a razor-thin majority in the Senate, Democrats pivoted quickly to a budget resolution containing spending instructions for the multi-trillion-dollar follow-up package. They plan to push the package through over the next few months, using a process called “budget reconciliation.

Eurozone: Britain imposed sanctions on Belarus’s potash and petroleum product exports on Monday in an attempt to put pressure on President Alexander Lukashenko, who swiftly retorted that London should “choke on” the new measures.

So far Western sanctions have done little to persuade Lukashenko, in power in the former Soviet republic since 1994, to change course from a crackdown on his political opponents.

The British sanctions, which prohibited the purchase of transferable securities and money-market instruments issued by the Belarusian state and its state-owned banks, are the latest sanctions imposed by the West over Lukashenko’s crackdown.

The package also includes measures to prevent Belarusian air carriers from overflying or landing in the United Kingdom and a prohibition on the provision of technical assistance to Lukashenko’s fleet of luxury aircraft.

Important Data: US Core CPI (YoY) (Jul) today at 8:30 this time estimated 4.3%, previously which was 4.5%. US Crude Oil Inventories today at 10:30 this time estimated -1.271M, previously which was 3.626M. AUSTRALIA Wage Price Index (QoQ) (Q2) today at 21:30 this time estimated 0.5%, previously which was 0.6%. UK RICS House Price Balance (Jul) today at 19:01 this time estimated 76%, previously which was 83%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.38191, TAKE PROFIT AT 1.37958 AND STOP LOSS AT 1.38568

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.17047, TAKE PROFIT AT 1.16569 AND STOP LOSS AT 1.18041

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.84673, TAKE PROFIT AT 0.84662 AND STOP LOSS AT 0.84691

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 129.657, TAKE PROFIT AT 129.470 AND STOP LOSS AT 129.841

S&P 500

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 4426.54 TAKE PROFIT AT 4434.61 AND STOP LOSS AT 4424.91

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 68.50 TAKE PROFIT AT 67.71 AND STOP LOSS AT 69.32

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1732.24, TAKE PROFIT AT 1723.75 AND STOP AT 1736.93

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 46282.42 TAKE PROFIT AT 47074.04 AND STOP AT 45239.18

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