Technical Analysis Report Today – 13 August 2021

Technical Analysis

Technical Analysis Report Today – 13 August 2021

Asia Pacific stocks were mostly down on Friday morning. The Shanghai composite is down 0.56% at 3,504.92. Overall, the Singapore MSCI down 0.30% at 363.60. Over in Hong Kong, the Hang Seng Index down 0.94% at 26,141. In Japan, the Nikkei 225 down 0.11% at 27,990, while the Topix index is up 0.05% at 1956.0. South Korea’s Kospi down 1.18% to 3170.61. Australia S&P/ASX 200 up 0.53% at 7629.9.

European equities Thursday closing. The DAX futures contract in Germany traded up 0.70% at 15937.51, CAC 40 futures up 0.36% at 6882.48 and the UK 100 futures contract in the U.K. down 0.07% at 7,205.05.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.04% at 35499.86. The S&P 500 up 0.30% to 4460.82 and the Nasdaq 100 down 0.08% at 15077.2, NYSE closes at 16871.11 down 0.03%.

In the Forex market, GBPUSD up flat at 1.38054. The USDJPY down 0.02% at 110.395. The USDCHF up 0.04% at 0.92362. EURUSD up 0.05% at 1.17357, EUR/GBP up 0.14% at 0.85010. The USD/CNY down 0.02% at 6.4776, at the time of writing.

In the commodity market U.S. Gold futures up 0.31% at $1,757.60. Elsewhere, Silver futures up 0.66% to $23.280 per ounce, Platinum down 0.06% at $1020.39 per ounce, and Palladium down 0.20% at $2,623.18.

Crude Oil down on Friday; Brent crude oil down 0.65% at $70.68 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.10% at $69.82.

In the Cryptocurrency Markets, BTCUSD at 45186.53 up 1.71%, Ethereum at 3119.67 up 2.46%, Litecoin at 169.22 up 2.53%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Gartner Inc. up 2.924% at $304.09, Apple Inc. up 2.077% at $148.89, Nucor Corp. up 2.054% to $125.24, Western Digital Corp. down 6.505% to $62.38, Micron Technology Inc. down 6.371% to $70.25, KLA Corp. down 4.13% at $328.51.

Economic news:

US: President Joe Biden on Thursday called on U.S. lawmakers to enact legislation aimed at lowering drug prices, including allowing Medicare to negotiate drug prices and imposing penalties on drugmakers that hike prices faster than inflation.

The Democratic president’s remarks laid out his vision to help reduce the costs for prescription medications as part of the Build Back Better agenda he is seeking to push through Congress as the nation continues to grapple with the COVID-19 pandemic.

Pharmaceutical manufacturers have earned high praise for quickly developing vaccines against the novel coronavirus. But the outbreak of the highly contagious disease, which upended the economy and has so far killed more than 617,000 people in the United States, also drew renewed attention to healthcare costs.

Biden on Thursday lauded drugmakers for their life-saving work developing the COVID-19 vaccines.

Eurozone: Some of the European Union’s biggest banks are holding less capital than they should by using transactions to temporarily compress their balance sheets, a research paper from the Bank for International Settlements said on Thursday.

After several banks had to be rescued by taxpayers during the global financial crisis over a decade ago, global regulators now designate the biggest among them as globally systemic banks or G-SIBs to face tougher capital rules.

Each year, G-SIBs are slotted into buckets, with tougher rules for those in the higher buckets.

The paper from the BIS, a forum for central banks based in Basel, Switzerland, said “window dressing” or using transactions to compress assets and liabilities at the end of the year, is blurring data used by regulators and thus affecting the actions they take.

The volume and riskiness of assets and liabilities determine how much capital must be held, but banks are able to “manage down” their G-SIB score and reduce their capital surcharges, the paper said.

Important Data: US Import Price Index (MoM) (Jul) today at 8:30 this time estimated 0.6%, previously which was 1.0%. EUROPE Trade Balance (Jun) today at 5:00 previously which was 7.5B. US      Export Price Index (MoM) (Jul) today at 8:30 this time estimated 0.8%, previously which was 1.2%. SWITZERLAND PPI (MoM) (Jul) today at 2:30 previously which was 0.3%.                    

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.38010, TAKE PROFIT AT 1.37863 AND STOP LOSS AT 1.38247

EURUSD

TRADE SUGGESTION- SELL AT 1.17335, TAKE PROFIT AT 1.17187 AND STOP LOSS AT 1.17523

USDJPY

TRADE SUGGESTION- BUY AT 110.355, TAKE PROFIT AT 110.523 AND STOP LOSS AT 110.177

USDCHF

TRADE SUGGESTION- BUY AT 0.92381, TAKE PROFIT AT 0.92567 AND STOP LOSS AT 0.92216

FTSE 100

TRADE SUGGESTION- BUY AT 7214.6 TAKE PROFIT AT 7234.4 AND STOP LOSS AT 7207.5

WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 68.61 TAKE PROFIT AT 68.05 AND STOP LOSS AT 69.54

GOLD

TRADE SUGGESTION- SELL AT 1758.94, TAKE PROFIT AT 1750.69 AND STOP AT 1767.84

LITECOINUSD

TRADE SUGGESTION- BUY AT 177.398 TAKE PROFIT AT 185.362 AND STOP AT 167.35

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