Technical Analysis Report Today – 12 July 2021

Technical Analysis Report Today – 12 July 2021

Asian shares were enjoying a relief rally on Monday as record highs on Wall Street. The Shanghai composite is up 0.46% at 3,540.22. Overall, the Singapore MSCI up 0.30% at 356.00. Over in Hong Kong, the Hang Seng Index up 0.71% at 27,441. In Japan, the Nikkei 225 up 1.17% at 28,540, while the Topix index is up 1.22% at 1952.0. South Korea’s Kospi up 0.91% to 3247.85. Australia S&P/ASX 200 up 0.74% at 7325.7.

European equities Friday closing. The DAX futures contract in Germany traded 1.73% up at 15687.93, CAC 40 futures up 2.07% at 6529.43 and the UK 100 futures contract in the U.K. up 1.30% at 7,121.88.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.30% at 34870.17. The S&P 500 up 1.13% to 4369.54 and the Nasdaq 100 down 0.11% at 14810.6, NYSE closes at 16633.29 up 1.67%.

In the Forex market, GBPUSD down 0.14% at 1.38839. The USDJPY up 0.07% at 110.18. The USDCHF up 0.10% at 0.91460. EURUSD down 0.09% at 1.18663, EUR/GBP up 0.11% at 0.8547. The USD/CNY down 0.07% at 6.474, at the time of writing.

In the commodity market U.S. Gold futures down 0.43% at $1,800.49. Elsewhere, Silver futures down 0.54% to $25.960 per ounce, Platinum down 0.92% at $1093.81 per ounce, and Palladium down 0.36% to $2,799.50.

Crude Oil mix on Monday; Brent crude oil down 0.42% at $75.24 barrel while U.S. West Texas Intermediate (CLc1) is up 1.24% at $74.04.

In the Cryptocurrency Markets, BTCUSD at 34196.97 down 0.18%, Ethereum at 2147.28 up 0.39%, Litecoin at 135.32 up 0.89%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

NOV Inc. up 5.994% at $15.03, GAP Inc. up 4.694% at $32.34, STATE STREET Corp. up 5.679% to $84.11, BIOGEN Inc. down 2.951% to $358.16, BAIDU Inc. up 3.116% to $181.36, CSX Corp. up 2.843% at $31.83.

Economic news:

US: Global financial regulators need a joint effort to address climate-related financial risks, the chair of the Financial Stability Board said on Sunday, urging the body tasked with setting disclosure standards to “press forward as quickly as possible.”

Randal Quarles, who is also the Federal Reserve’s Vice Chair for Supervision, also called for an international effort to develop comprehensive and comparable data on climate-related risks, including better information on the dangers of extreme weather events to business, bank and household balance sheets.

“Globally consistent, comparable, and reliable disclosures, as well as a broader set of high-quality, relevant data, together, can provide the basis to assess climate-related financial risks and the impact on financial stability,” Quarles said in remarks prepared for delivery to the Venice International Conference on Climate Change.

Among efforts the FSB is spearheading, Quarles said, is coordinating work with global central banks on the financial metrics useful for scenario analyses, an approach to assessing bank risk to climate stressors underway in some countries but that faces political resistance in the United States.

Eurozone: The European Central Bank will change its guidance on the next policy steps at its next meeting to reflect its new strategy and show it is serious about reviving inflation, ECB President Christine Lagarde said in an interview aired on Monday.

Announced last week, the ECB’s new strategy allows it to tolerate inflation higher than its 2% goal when rates are near rock bottom, such as now.

This is meant to reassure investors that policy won’t be tightened prematurely and boost their expectations about future price growth, which has lagged below the ECB’s target for most of the past decade.

“Given the persistence that we need to demonstrate to deliver on our commitment, forward guidance will certainly be revisited,” Lagarde told Bloomberg TV.

The ECB’s current guidance says it will buy bonds for as long as necessary and keep interest rates at their current, record-low levels until it has seen the inflation outlook “robustly converge” to its goal.

Lagarde did not elaborate on how that message might change, simply saying the ECB’s aim will be to keep credit easy.

Important Data: AUSTRALIA NAB Business Confidence (Jun) today at 21:30 previously which was 20. US 10-Year Note Auction today at 13:00 previously which was 1.497%. EURO ZONE Eurogroup Meetings today at 6:00. INDIA CPI (YoY) (Jun) today at 8:00 this time estimated 6.58%, previously which was 6.30%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.38837, TAKE PROFIT AT 1.39198 AND STOP LOSS AT 1.38666

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.18579, TAKE PROFIT AT 1.18428 AND STOP LOSS AT 1.18810

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 110.136 , TAKE PROFIT AT 109.936 AND STOP LOSS AT 110.332

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.91490, TAKE PROFIT AT 0.91315 AND STOP LOSS AT 0.91639

FTSE 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 7110.4 TAKE PROFIT AT 7148.9 AND STOP LOSS AT 7088.8

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 74.16 TAKE PROFIT AT 74.86 AND STOP LOSS AT 74.00

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1800.39, TAKE PROFIT AT 1802.13 AND STOP AT 1798.14

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 138.11 TAKE PROFIT AT 130.446 AND STOP AT 142.30

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