Technical Analysis Report Today – 17 May 2021

Technical Analysis

Technical Analysis Report Today – 17 May 2021

Asian share markets turned mixed on Monday. The Shanghai composite is up 0.78% at 3,517.615. Overall, the Singapore MSCI up 0.75% at 347.80. Over in Hong Kong, the Hang Seng Index up 0.60% to 28,083. In Japan, the Nikkei 225 down 0.96% at 27,770, while the Topix index is down 0.27% at 1876.0. South Korea’s Kospi down 0.60% to 3134.53. Australia S&P/ASX 200 up 0.13% at 7023.6.

European equities Friday closing. The DAX futures contract in Germany traded 1.43% up at 15416.64, CAC 40 futures up 0.26% at 6402.85 and the UK 100 futures contract in the U.K. up 0.26% at 7,062.2.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 1.06% up at 34382.5 the S&P 500 up 1.49% to 4173.9 and the Nasdaq 100 down 0.10% at 13396.9, NYSE closes at 16415.35 up 1.44%.

In the Forex market, GBPUSD up 0.19% at 1.41159. The USDJPY down 0.15% at 109.168. The USDCHF up 0.02% at 0.90132. EURUSD flat at 1.21446, EUR/GBP down 0.10% at 0.86040. The USD/CNY up 0.02% at 6.4380, at the time of writing.

In the commodity market U.S. Gold futures up 0.64% at $1,854.00. Elsewhere, Silver futures up 1.07% to $27.703 per ounce, Platinum up 0.82% at $1235.03 per ounce, and Palladium up 0.36% to $2,903.

Crude Oil mix on Monday; Brent crude oil down 0.29% to $68.61 barrel while U.S. West Texas Intermediate (CLc1) is up 0.90% at $65.09.

In the Cryptocurrency Markets, BTCUSD at 44570.82 down 4.04%, Ethereum at 3448.85 down 3.76%, Litecoin at 285.72 up 3.61%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Top 5 Stock

SEAGATE TECH. up 12.441% at $97.97, WESTERN DIGITAL up 8.287% at $71.87, GAP Inc. up 6.597% to $35.71, WALT DISNEY Co. down 2.602% to $173.7, BOEING Inc. up 2.619% to $228.47, WALT DISNEY down 2.602% at $173.7.

Economic news:

US: High unemployment. Rising prices. Gas lines.

They’re a bad memory for Americans old enough to remember the 1970s – but they’re also likely causing a few sleepless nights in the White House, as the United States’ economic recovery from the unprecedented coronavirus recession hits some bumps.

The jolts are dampening consumer confidence, ramping up inflation fears, and helping Republicans build their case against President Joe Biden and his ambitious plans to revamp the U.S. economy with trillions in new spending.

As the 1970s show, high joblessness and rising prices the United States saw in April can be a potent political force.

Republicans crafted a “misery index” out of the two factors to attack then-president Jimmy Carter. After hitting 75% approval ratings early in his presidency, the Democrat was trounced in a 1980 landslide.

Eurozone: Euro zone governments’ borrowing costs are at multi-month highs and German 10-year bond yields are rising towards 0%, yet ECB policymakers and investors appear unruffled, a sign that they view the bloc’s ongoing economic recovery as the real thing.

It’s a contrast with February when yields on German bonds, the euro area benchmark rate, rose 35 basis points within a month to -0.20%.

That led European Central Bank officials to line up and talk the markets down with veiled threats to tamp down borrowing costs. They then followed up in March by accelerating the pace of emergency bond buys.

This time, Germany’s Bund yield is near its highest level in almost two years and looks set to breach the 0% milestone for the first time since 2019.

Important Data: US NY Empire State Manufacturing Index (May) today at 8:30 this time estimated 23.9, previously which was 26.3. CANADA Housing Starts (Apr) today at 8:15 this time estimated 292.5K, previously which was 335.2K. RUSSIA GDP Quarterly (YoY) (Q1) today at 12:00 this time estimated 2.2%, previously which was -1.8%. JAPAN GDP (QoQ) (Q1) today at 19:50 previously which was at 2.8%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.41032, TAKE PROFIT AT 1.41473 AND STOP LOSS AT 1.40657

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.21373, TAKE PROFIT AT 1.21626 AND STOP LOSS AT 1.2111

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 109.221, TAKE PROFIT AT 109.034 AND STOP LOSS AT 109.456

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 132.569, TAKE PROFIT AT 132.806 AND STOP LOSS AT 132.436

DAX 30

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 15407.5 TAKE PROFIT AT 15503.9 AND STOP LOSS AT 15261.5

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 65.34 TAKE PROFIT AT 65.71 AND STOP LOSS AT 64.72

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1853.00, TAKE PROFIT AT 1863.07 AND STOP AT 1842.96

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 45201.00 TAKE PROFIT AT 44319.68 AND STOP AT 46310.62

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