Technical Analysis Report Today – 16 August 2021

Technical Analysis

Technical Analysis Report Today – 16 August 2021

Asia Pacific stocks were down on Monday morning. The Shanghai composite is up 0.26% at 3,525.61. Overall, the Singapore MSCI down 0.16% at 363.50. Over in Hong Kong, the Hang Seng Index down 0.76% at 26,108. In Japan, the Nikkei 225 down 1.82% at 27,480, while the Topix index is down 1.71% at 1923.5. South Korea’s Kospi down 1.16% to 3171.29. Australia S&P/ASX 200 down 0.39% at 7599.3.

European equities Friday closing. The DAX futures contract in Germany traded up 0.25% at 15977.44, CAC 40 futures up 0.20% at 6896.05 and the UK 100 futures contract in the U.K. down 0.50% at 7,177.6.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.04% at 35515.39. The S&P 500 up 0.16% to 4467.99 and the Nasdaq 100 down 0.10% at 15116.8, NYSE closes at 16868.11 down 0.02%.

In the Forex market, GBPUSD down 0.12% at 1.38465. The USDJPY down 0.17% at 109.415. The USDCHF up 0.10% at 0.91608. EURUSD down 0.06% at 1.17876, EUR/GBP up 0.17% at 0.85130. The USD/CNY flat at 6.4768, at the time of writing.

In the commodity market U.S. Gold futures down 0.29% at $1,774.14. Elsewhere, Silver futures down 0.60% to $23.560 per ounce, Platinum down 1.33% at $1012.76 per ounce, and Palladium down 0.81% at $2,628.96.

Crude Oil down on Monday; Brent crude oil down 0.74% at $69.70 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.36% at $69.57.

In the Cryptocurrency Markets, BTCUSD at 47636.89 up 1.29%, Ethereum at 3301.08 down 0.31%, Litecoin at 186.61 up 0.90%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Pfizer Inc. up 2.625% at $48.48, PVH Corp. up 2.057% at $116.62, Kellogg Co. up 1.801% to $65.57, HP Inc. down 4.572% to $29.01, Gap Inc. down 3.7% to $28.89,

CSX Corp. down 0.762% at $33.87.

Economic news:

US: U.S. House Speaker Nancy Pelosi told lawmakers Sunday that she had asked a House committee to advance both a $1 trillion infrastructure plan and a $3.5 trillion spending package together, an apparent effort to patch up divisions that had threatened to stall President Joe Biden’s legislative priorities.

The U.S. Senate approved both the infrastructure legislation and the outline of a separate plan loaded with investments in new domestic programs. But the combined price tag of the two measures created fissures between the progressive and moderate wings of the Democratic Party, which controls both chambers of Congress by narrow margins.

Eurozone: The European Central Bank is likely to announce long-awaited plans to reduce its pandemic-related asset purchases in the next quarter, according to a Reuters poll of economists, most of whom expected the programme to be wrapped up by the end of March.

With the euro zone economy growing at its fastest pace on record and inflation set to rise further, pressure on the ECB to taper its Pandemic Emergency Purchase Programme (PEPP) is building, as it is on other major central banks. [ECILT/US]

“While the ECB will start discussing phasing out PEPP in September, no decision will be made until December,” wrote George Buckley, chief UK and euro area economist at Nomura, in a note to clients.

“However, we see risks to this view. As COVID-19 cases rise, and uncertainty about the future of the virus in autumn remains, the ECB may want to continue purchases at the current rate until the end of the year, to prevent an unwarranted rise in yields.”

Important Data: CANADA Manufacturing Sales (MoM) (Jun) today at 8:30 this time estimated 2.5%, previously which was -0.6%. US TIC Net Long-Term Transactions (Jun) today at 16:00 previously which was -30.2B. US NY Empire State Manufacturing Index (Aug) today at 8:30 this time estimated 29.00, previously which was 43.00. AUSTRALIA RBA Meeting Minutes today at 21:30.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.38476, TAKE PROFIT AT 1.38291 AND STOP LOSS AT 1.38719

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.17856, TAKE PROFIT AT 1.17658 AND STOP LOSS AT 1.18033

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.8508, TAKE PROFIT AT 0.8497 AND STOP LOSS AT 0.8520

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 128.933, TAKE PROFIT AT 128.585 AND STOP LOSS AT 129.367

DOW JONES

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 35295 TAKE PROFIT AT 35399 AND STOP LOSS AT 35266

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 67.42 TAKE PROFIT AT 66.66 AND STOP LOSS AT 68.11

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1773.36, TAKE PROFIT AT 1767.56 AND STOP AT 1782.12

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3282.75 TAKE PROFIT AT 3326.75 AND STOP AT 3257.11

About Author