Technical Analysis Report Today – 12 August 2021

Technical Analysis

Technical Analysis Report Today – 12 August 2021

Asia Pacific stocks were mostly up on Thursday morning. The Shanghai composite is down 0.24% at 3,523.61. Overall, the Singapore MSCI up 0.55% at 365.10. Over in Hong Kong, the Hang Seng Index down 0.47% at 26,421. In Japan, the Nikkei 225 down 0.18% at 28,020, while the Topix index is down 0.08% at 1953.0. South Korea’s Kospi down 0.31% to 3210.59. Australia S&P/ASX 200 down 0.16% at 7572.2.

European equities Wednesday closing. The DAX futures contract in Germany traded up 0.35% at 15826.09, CAC 40 futures up 0.55% at 6858.00 and the UK 100 futures contract in the U.K. up 0.83% at 7,220.14.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.62% at 35484.98. The S&P 500 up 0.25% to 4447.69 and the Nasdaq 100 down 0.09% at 15005.1, NYSE closes at 16875.39 up 0.49%.

In the Forex market, GBPUSD up 0.05% at 1.38681. The USDJPY down 0.01% at 110.425. The USDCHF down 0.03% at 0.92160. EURUSD up 0.04% at 1.17414, EUR/GBP up 0.03% at 0.84675. The USD/CNY down 0.05% at 6.4761, at the time of writing.

In the commodity market U.S. Gold futures up 0.03% at $1,751.25. Elsewhere, Silver futures down 0.58% to $23.403 per ounce, Platinum down 0.57% at $1013.21 per ounce, and Palladium flat at $2,639.00.

Crude Oil mix on Thursday; Brent crude oil down 0.34% at $71.36 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.69% at $69.89.

In the Cryptocurrency Markets, BTCUSD at 45083.33 down 1.02%, Ethereum at 3122.51 down 1.20%, Litecoin at 169.62 down 0.61%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Nucor Corp. up 3.912% at $122.72, Paccar Inc. up 3.799% at $82.78, Cummins Inc. up 3.435% to $241.8, Moderna Inc. down 15.638% to $385.33, Pfizer Inc. down 3.901% to $46.31, Carmax Inc. down 2.52% at $131.90.

Economic news:

US: Hours after the U.S. Senate approved a $3.5 trillion budget blueprint chock-full of investments in new domestic programs, fissures emerged between the moderate and liberal wings of the Democratic Party over the size and scope of the spending.

Senator Joe Manchin, a moderate Democrat representing the conservative-leaning state of West Virginia, issued a warning shortly after the Senate early on Wednesday passed the budget deal that would carry out President Joe Biden’s top priorities.

Manchin, who often acts as a bridge between his party and Republicans, voiced concerns about potentially “grave consequences” for the nation’s debt as well as Washington’s ability to respond to other potential crises.

That followed Democratic Senator Kyrsten Sinema’s warning that she does not support the $3.5 trillion price tag but would work “in good faith” to develop an alternative to include in implementing legislation.

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 Initial Jobless Claims today at 8:30 this time estimated 375K, previously which was 385K. US        PPI (MoM) (Jul) today at 8:30 this time estimated 0.6%, previously which was 1.0%. AUSTRALIA Employment Change (Jul) today at 21:30 this time estimated 30.0K, previously which was 29.1K. RUSSIA GDP Quarterly (YoY) (Q2) today at 12:00 previously which was -0.7%.  

TECHNICAL SUMMARY          

GBPUSD

TRADE SUGGESTION- BUY AT 1.38624, TAKE PROFIT AT 1.38843 AND STOP LOSS AT 1.38410

EURUSD

TRADE SUGGESTION- SELL AT 1.17341, TAKE PROFIT AT 1.17005 AND STOP LOSS AT 1.17521

GBPJPY

TRADE SUGGESTION- BUY AT 153.022, TAKE PROFIT AT 153.728 AND STOP LOSS AT 152.683

CHFJPY

TRADE SUGGESTION- SELL AT 119.726, TAKE PROFIT AT 119.439 AND STOP LOSS AT 119.951

EURO STOXX 50

TRADE SUGGESTION- BUY AT 4195.00 TAKE PROFIT AT 4206.00 AND STOP LOSS AT 4191.00

WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 68.97 TAKE PROFIT AT 68.42 AND STOP LOSS AT 69.66

GOLD

TRADE SUGGESTION- SELL AT 1754.55, TAKE PROFIT AT 1744.29 AND STOP AT 1763.66

BTCUSD

TRADE SUGGESTION- BUY AT 45217.74 TAKE PROFIT AT 46659.40 AND STOP AT 44765.00

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