Technical Analysis Report Today – 15 June 2021

Technical Analysis Report Today – 15 June 2021

ASIAN MARKET:-

Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.92% to 3,556.86. Hong Kong’s Hang Seng Index was down about 0.71% to 28,638.75.

Japan’s benchmark Nikkei average. Nikkei 225 is trading up 0.96 per cent at 29,441.63 on Friday while the  Australian Index S&P / ASX 200 rose 0.92 percent to 7,379.71. South Korea’s Kospi was down by 0.20% to 3,258.98.

EUROPEAN MARKET:-

The FTSE MIB climbed  down by 0.18%  to 25,710.46. In the cash markets, the DAX futures Germany was trading 0.70%  higher at 15,779.25. CAC 40 futures in France climbed up by 0.51% to 6,650.57, while the FTSE 100 futures in the U.K was up by  0.36% to 7,173.63 at the time of writing.

US MARKET:-

In the U.S. on Wall Street, the Dow Jones Industrial Average closed  0.25% down  at 34,393.38  the S&P 500 was up 0.18% to 4,255.56 and the Nasdaq 100 was up 0.74% at 14,174.03.

FOREX MARKET:-

In the Forex market, GBPUSD  was  0.25% down at 1.4078. The USDJPY was up 0.05% at 110.16. The USDCHF was down 0.16% at 0.8984. EURUSD was  up 0.06% at 1.2125, EUR/GBP was up 0.32% at 0.8614, at the time of writing.

 COMMODITY MARKET;-

In the commodity market, U.S. Gold futures rose 0.05% at $1,866.85. Elsewhere, Silver futures fell 0.92% to $27.782 per ounce, Platinum fell 0.69% at $1,156.05 per ounce, and Palladium was down 0.14% at $2,760.50.

Brent crude oil was up  0.40% to $73.17 a barrel while U.S. West Texas Intermediate (CLc1) rose  0.39% at $71.12.

 CRYPTO-CURRENCY MARKET:-

In the Cryptocurrency Markets, BTCUSD rose 2.63% at $40,124.9 , Ethereum at 2,591.28 up by 4.84%, Litecoin at 177.582  up  6.57%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

STOCKS TO WATCH OUT

AstraZeneca down 0.02% at 58.76. Apple Inc. up 2.46% at $130.48 , Amazon.com up 1.11% at $ 3,383.49, TESLA Inc up 1.28% at $ 617.78, Unilever up 1.06% at 4,340.830, Microsoft up 0.78% at $259.18 ,  Barclays down  0.89% at 177.80.

Economic news:

USA MARKET

USA MARKET

U.S. Senate Republicans are due to hear details on Tuesday about a bipartisan proposal to revitalize America’s roads and bridges, which lawmakers believe could win support from the caucus as a part of President Joe Biden’s sweeping infrastructure plan.

Members of a bipartisan Senate group will discuss the proposal with Republican senators at their weekly policy lunch, Republican lawmakers and aides said on Monday evening.

“We’ll be discussing it,” Senator Bill Cassidy, a member of the group, told reporters. “It won’t be a formal sort of ‘OK – now we need your vote.’ It’ll be more kind of ‘OK – here’s more information for you.'”

The bloc of Senate moderates, five Republicans and five Democrats, said last Thursday that it had reached an agreement after negotiations between Republican Senator Shelley Moore Capito and Biden broke down.

It proposes to spend $974 billion over five years, or $1.2 trillion over eight years, a source familiar with the package said. That is below Biden’s current $1.7 trillion proposal and it is unclear whether it can gather enough support to pass the 50-50 Senate.

Senator John Thune, the chamber’s No. 2 Republican, told reporters that he expects Republican support for the proposal.

“I don’t know how many Democrats they can get for something like what they’re talking about. But I think there would be substantial Republican support,” he said. “It’s good work.”

Senator Dick Durbin, the chamber’s No. 2 Democrat, said he had urged senators to “get this moving.” He said any bipartisan deal, as well a separate measure Democrats are eyeing to try to pass their remaining infrastructure priorities without Republican support, would need to get in shape by the end of June because of a tight floor schedule.

Biden has set his sights on infrastructure legislation that would both revamp the nation’s roads and bridges as well as boost spending on services including healthcare and childcare – although Republicans reject the idea that those latter priorities even qualify for the label “infrastructure.”

EUROZONE:-

EUROZONE

The European Union on Monday began selling the first bond backing its recovery fund, according to a lead manager, a crucial step in financing members states’ economic recovery from the coronavirus pandemic.

The sale of the 10-year bond is the start of up to 800 billion euros of debt issuance between now and 2026 that will back grants and loans to member states – an unprecedented act of fiscal solidarity on the EU’s part that may transform it into a leading European borrower.

The sale should be completed on Tuesday, EU Budget and Administration Commissioner Johannes Hahn said.

It will build on 90 billion euros of EU issuance backing the SURE unemployment scheme, another support programme, since last October, which had already given the EU a significant presence in the 27-member bloc’s debt markets.

The recovery fund debt, given its much larger scale than SURE, is expected to boost the liquidity of the EU’s debt and see continued interest from investors keen to buy scarce Triple A rated debt, which also offers a yield pick-up over the bloc’s benchmark issuer Germany.

Initial price thoughts on the deal are around 1 basis point above the mid-swap level as the EU collects indications of interest from investors, according to a lead manager memo seen by Reuters. That is equivalent to a yield of about 0.10% according to Reuters calculations.

The bond will raise 10 billion euros, France’s junior minister for European affairs said on May 31.

The EU has said it expects to issue 80 billion euros of long-term debt this year.

After the inaugural deal, the EU will sell two more bonds via syndication – where a borrower hires banks to sell the debt directly to end investors – by the end of July.

TECHNICAL SUMMARY

GBP/USD:-

GBP/USD Technical Analysis
GBP/USD Technical Analysis

TRADE SUGGESTION- SELL AT 1.40780, TAKE PROFIT AT 1.40380AND STOP LOSS  AT 1.40980

USD/JPY:-

USD/JPY Technical Analysis
USD/JPY Technical Analysis

TRADE SUGGESTION- BUY AT 110.025, TAKE PROFIT AT 116.025 AND STOP LOSS AT 107.025

 DOW JONES:-

DOW JONES Technical Analysis
DOW JONES Technical Analysis

TRADE SUGGESTION- SELL AT 34,390.50, TAKE PROFIT AT 34,190.50 AND STOP LOSS  AT  34,490.50.

CRUDE OIL {WTI}:-

CRUDE OIL {WTI} Technical Analysis
CRUDE OIL {WTI} Technical Analysis

TRADE SUGGESTION- BUY AT 70.60, TAKE PROFIT AT 80.60 AND STOP LOSS AT 65.60

ETHEREUM:-

ETHEREUM Technical Analysis
ETHEREUM Technical Analysis

TRADE SUGGESTION- BUY AT 2,580.50, TAKE PROFIT AT 2,780.50 AND STOP LOSS  2,480.50 .

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