Technical Analysis Report Today – 14 July 2021

Technical Analysis

Technical Analysis Report Today – 14 July 2021

Asian shares fell on Wednesday after data showing the biggest jump in U.S. inflation in 13 years. The Shanghai composite is down 0.55% at 3,547.12. Overall, the Singapore MSCI down 0.30% at 360.60. Over in Hong Kong, the Hang Seng Index down 0.22% at 27,819. In Japan, the Nikkei 225 down 0.10% at 28,620, while the Topix index is up 0.08% at 1965.5. South Korea’s Kospi down 0.22% to 3264.05. Australia S&P/ASX 200 up 0.40% at 7361.2.

European equities Tuesday closing. The DAX futures contract in Germany traded 0.01% down at 15789.64, CAC 40 futures down 0.01% at 6558.48 and the UK 100 futures contract in the U.K. down 0.01% at 7,124.73.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.31% at 34888.80. The S&P 500 down 0.35% to 4369.20 and the Nasdaq 100 down 0.06% at 14870.6, NYSE closes at 16575.77 down 0.58%.

In the Forex market, GBPUSD up 0.16% at 1.38245. The USDJPY down 0.10% at 110.511. The USDCHF down 0.05% at 0.91802. EURUSD up 0.10% at 1.17879, EUR/GBP down 0.04% at 0.85202. The USD/CNY up 0.05% at 6.4719, at the time of writing.

In the commodity market U.S. Gold futures up 0.28% at $1,813.27. Elsewhere, Silver futures up 0.45% to $26.08 per ounce, Platinum up 0.41% at $1112.03 per ounce, and Palladium up 0.12% to $2,831.87.

Crude Oil up on Wednesday; Brent crude oil up 0.05% at $76.37 barrel while U.S. West Texas Intermediate (CLc1) is up 0.75% at $74.32.

In the Cryptocurrency Markets, BTCUSD at 31864.36 down 2.58%, Ethereum at 1880.67 down 3.07%, Litecoin at 125.20 down 4.38%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

PEPSI Co. Inc. up 2.308% at $152.96, MASTERCARD Inc. up 2.17% at $383.71, BOEING Inc. down 4.234% to $228.20, CARNIVAL Corp. down 4.233% to $22.85, HP Inc. down 3.492% to $28.19, TESLA Inc. down 2.503% at $668.54.

Economic news:

US: U.S. President Joe Biden’s drive for big new infrastructure investment got a boost on Tuesday when leading Senate Democrats agreed on a $3.5 trillion investment plan, they aim to include in a budget resolution to be debated soon, Senate Majority Leader Chuck Schumer said.

“We have come to an agreement,” Schumer told reporters after more than two hours of closed-door talks that included Senate Budget Committee Democrats and White House officials. Republicans have not been part of these negotiations.

“You add that to the $600 billion in a bipartisan plan and you get to $4.1 trillion, which is very, very close to what President Biden has asked us for,” Schumer said.

Schumer was referring to work being done on a separate, bipartisan infrastructure bill totalling $1.2 trillion, of which nearly $600 billion would be new spending. This bill would finance the rebuilding of roads, bridges and other traditional infrastructure, as well as expand broadband internet service to many rural parts of the United States.

Democratic and Republican negotiators on the bipartisan measure also reported progress late in the day.

Eurozone: The European Central Bank is set to give the green light on Wednesday to a multi-year project to create a digital version of the euro.

An electronic equivalent of banknotes and coins, the digital euro will likely be a digital wallet that euro zone citizens can keep at the ECB.

It is part of a drive by central banks to meet growing demand for electronic means of payment and tackle a boom in private sector digital currencies from Bitcoin to Facebook (NASDAQ:FB)’s proposed Diem.

WHAT IS A DIGITAL EURO?

It will be a means of payment that gives holders a claim against the ECB – like banknotes and coins, but in digital format.

It will probably resemble an online bank account or digital wallet held directly at the ECB rather than at a commercial institution.

This is a fundamental difference because the ECB cannot run out of euros, making its digital currency intrinsically safer than any private sector counterpart.

Important Data: EURO ZONE Industrial Production (MoM) (May) today at 5:00 this time estimated -0.2%, previously which was 0.8%. US PPI (MoM) (Jun) today at 8:30 this time estimated 0.6%, previously which was 0.8%. CANADA  BoC Interest Rate Decision today at 10:00 this time estimated 0.25%, previously which was 0.25%. AUSTRALIA Employment Change (Jun) today at 21:30 this time estimated 30.0K, previously which was 115.2K.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.38428, TAKE PROFIT AT 1.38109 AND STOP LOSS AT 1.38930

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.179, TAKE PROFIT AT 1.17694 AND STOP LOSS AT 1.18017

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 152.881, TAKE PROFIT AT 152.555 AND STOP LOSS AT 153.137

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 120.250, TAKE PROFIT AT 120.010 AND STOP LOSS AT 120.569

NASDAQ 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 14864.24 TAKE PROFIT AT 14884.50 AND STOP LOSS AT 14839.4

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 75.04 TAKE PROFIT AT 75.32 AND STOP LOSS AT 74.84

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1811.45, TAKE PROFIT AT 1816.08 AND STOP AT 1808.93

BTCUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 31879.74 TAKE PROFIT AT 31013.95 AND STOP AT 32587.31

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