Technical Analysis Report Today – 13 July 2021

Technical Analysis Report Today – 13 July 2021

Asian shares climbed in early trade on Tuesday. The Shanghai composite is up 0.37% at 3,561.13. Overall, the Singapore MSCI up 1.02% at 361.25. Over in Hong Kong, the Hang Seng Index up 1.50% at 27,933. In Japan, the Nikkei 225 up 0.67% at 28,690, while the Topix index is up 0.79% at 1966.5. South Korea’s Kospi up 0.82% to 3273.06. Australia S&P/ASX 200 up 0.20% at 7348.0.

European equities Monday closing. The DAX futures contract in Germany traded 0.65% up at 15790.51, CAC 40 futures up 0.46% at 6559.26 and the UK 100 futures contract in the U.K. up 0.05% at 7,125.41.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.36% at 34996.19. The S&P 500 up 0.35% to 4384.64 and the Nasdaq 100 down 0.10% at 14873.9, NYSE closes at 16673.14 up 0.24%.

In the Forex market, GBPUSD up 0.02% at 1.38809. The USDJPY up 0.02% at 110.351. The USDCHF up 0.01% at 0.91507. EURUSD flat at 1.18589, EUR/GBP up 0.10% at 0.8545. The USD/CNY down 0.13% at 6.4672, at the time of writing.

In the commodity market U.S. Gold futures up 0.29% at $1,810.84. Elsewhere, Silver futures up 0.33% to $26.287 per ounce, Platinum down 0.17% at $1121.52 per ounce, and Palladium down 0.04% to $2,849.00.

Crude Oil mix on Tuesday; Brent crude oil up 0.40% at $75.48 barrel while U.S. West Texas Intermediate (CLc1) is down 0.36% at $73.77.

In the Cryptocurrency Markets, BTCUSD at 32988.51 down 0.35%, Ethereum at 1998.30 down 1.73%, Litecoin at 130.95 down 1.95%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TESLA Inc. up 4.376% at $685.7, WALT DISNEY Co. up 4.146% at $184.38, MORGAN STANLEY up 2.679% to $92.75, BIOGEN Inc. down 2.546% to $349.04, OKTA Inc. down 2.498% to $245.55, WORKDAY Inc. down 1.48% at $236.39.

Economic news:

US: Nine Democratic U.S. lawmakers on Monday urged Germany to drop its “blockade” of a COVID-19 related waiver of intellectual property rights under global trade rules, and asked Chancellor Angela Merkel to meet with them during her visit to Washington.

Representative Jan Schakowsky, part of the Democratic leadership in the House of Representatives; Representative Earl Blumenauer, who leads the trade subcommittee of the House Ways and Means Committee; and the other lawmakers said they were troubled that Germany was leading EU opposition to a proposed waiver being discussed at the World Trade Organization.

“The United States and almost every other WTO member seeks to enact a COVID emergency temporary TRIPS waiver as quickly as possible,” they wrote in a letter to German Ambassador Emily Haber, adding that production of COVID-19 vaccines must be increased to save millions of lives.

“Thanks to IP barriers, it is the U.S. and German firms that have the only approved COVID-19 mRNA vaccines that hold the monopoly power to decide if this scale-up will occur,” they wrote.

Eurozone: The European Central Bank will start tapering its pandemic-related asset purchases after its September meeting and stop buying them by the end of March, according to a Reuters poll which showed the top economic risk was new COVID-19 variants.

After announcing a new strategy last week that allows the central bank to tolerate inflation higher than its new 2% symmetric target, ECB President Christine Lagarde said on Monday the bank would change its policy guidance at its July 22 meeting.

While those announcements came against a backdrop of slightly more optimistic growth and inflation forecasts for this year and next, high unemployment rates in most euro zone countries are underscoring the need for caution.

Just over 70% of economists, or 36 of 51, who responded to an additional question in the July 5-12 poll said the ECB would start tapering its Pandemic Emergency Purchase Programme (PEPP) after the September meeting, up from nearly 63% last month.

Important Data: NEW ZEALAND RBNZ Interest Rate Decision today at 22:00 this time estimated 0.25%, previously which was 0.25%. US Federal Budget Balance (Jun) today at 14:00 this time estimated -194.0B, previously which was -132.0B. US API Weekly Crude Oil Stock today at 16:30 previously which was -7.983M. JAPAN Reuters Tankan Index (Jul) today at 19:00 previously which was 22.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.38794, TAKE PROFIT AT 1.39010 AND STOP LOSS AT 1.38677

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.18526, TAKE PROFIT AT 1.18424 AND STOP LOSS AT 1.18665

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.85432, TAKE PROFIT AT 0.85329 AND STOP LOSS AT 0.85588

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 130.795, TAKE PROFIT AT 130.561 AND STOP LOSS AT 131.004

DAX 30

Technical Analysis

Technical Analysis

TRADE SUGGESTION- BUY AT 15761.0 TAKE PROFIT AT 15806.1 AND STOP-LOSS AT 15730.7

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 74.38 TAKE PROFIT AT 74.83 AND STOP LOSS AT 74.00

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1809.89, TAKE PROFIT AT 1817.80 AND STOP AT 1805.32

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 2020.90 TAKE PROFIT AT 1994.30 AND STOP AT 2058.13

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