Technical Analysis Report Today – 18 August 2021

Technical Analysis

Technical Analysis Report Today – 18 August 2021

Asia Pacific stocks were up on Wednesday morning. The Shanghai composite is up 0.72% at 3,472.00. Overall, the Singapore MSCI up 1.14% at 362. 40. Over in Hong Kong, the Hang Seng Index up 0.73% at 25,870. In Japan, the Nikkei 225 up 0.77% at 27,570, while the Topix index is up 0.52% at 1922.0. South Korea’s Kospi up 0.64% to 3163.27. Australia S&P/ASX 200 down 0.01% at 7509.9.

European equities Tuesday closing. The DAX futures contract in Germany traded down 0.02% at 15921.95, CAC 40 futures down 0.28% at 6819.85 and the UK 100 futures contract in the U.K. up 0.38% at 7,181.12.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.79% at 35343.29. The S&P 500 down 0.71% to 4448.07 and the Nasdaq 100 up 0.28% at 15019.6, NYSE closes at 16707.12 down 0.77%.

In the Forex market, GBPUSD up 0.08% at 1.37444. The USDJPY up 0.03% at 109.610. The USDCHF up 0.05% at 0.91403. EURUSD up 0.08% at 1.17175, EUR/GBP up 0.12% at 0.85253. The USD/CNY down 0.06% at 6.4822, at the time of writing.

In the commodity market U.S. Gold futures up 0.35% at $1,792.00. Elsewhere, Silver futures up 0.31% to $23.734 per ounce, Platinum up 1.45% at $1011.92 per ounce, and Palladium up 1.80% at $2,530.30.

Crude Oil mix on Wednesday; Brent crude oil up 0.35% at $69.34 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.30% at $68.97.

In the Cryptocurrency Markets, BTCUSD at 45368.63 up 1.51%, Ethereum at 3068.03 up 1.86%, Litecoin at 170.95 up 1.45%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Moderna Inc. up 7.489% at $401.86, Pfizer Inc. up 3.087% at $50.42, Domino’s Pizza Inc. up 2.837% to $527.75, ETSY Inc. up 2.038% to $194.30, PVH Corp. down 5.408% to $106.7, Gap Inc. down 4.429% at $26.76.

Economic news:

US: Treasury Secretary Janet Yellen termed the Biden administration’s two-track legislative push for major spending bills on infrastructure and social programs as “the most important economic project in recent history,” countering objections that the bills will amount to “overinvesting.”

In an opinion piece published by Yahoo Finance, Yellen said the Senate’s votes this month in favor of a $550 billion infrastructure bill and a $3.5 trillion budget resolution that opens the way for expanded outlays on social programs, would help reverse decades of underinvestment in priorities like infrastructure, education and childcare. The House of Representatives is set to take up the measures this fall.

While Republicans joined Democrats in advancing the infrastructure bill, they have opposed the social-spending package, citing concerns about record U.S. debt levels and a surge in inflation they say has already been fueled by fiscal transfers to American households.

Yellen countered that Biden’s economic agenda “will bolster our economic growth and productivity, while bringing down some of the largest cost drivers for American families.”

Eurozone: The United Kingdom said on Tuesday it aims to start negotiations for a trade agreement with India by the end of the year.

“We are currently in the pre-negotiation scoping phase of an FTA (free trade agreement), with the aim of starting negotiations by the end of this year,” a spokesperson for Britain’s Department for International Trade said.

“With bilateral trade valued at 23 billion pounds ($31.60 billion) in 2019, a trade deal with India will help boost British exports through lower tariffs and increased investment opportunities,” the spokesperson said in an emailed statement.

A trade accord with India is seen as a key target for post-Brexit Britain. Prime Minister Boris Johnson reluctantly called off a trip to the capital Delhi in April this year after COVID-19 cases spiraled across India.

Since completing its exit from the European Union at the end of last year, Britain has been keen to secure trade deals and is particularly pursuing ties with nations in the Indo-Pacific region, home to some of the fastest-growing economies.

Important Data: CPI (YoY) (Jul) today at 5:00 this time estimated 2.2%, previously which was 2.2%. US Building Permits (Jul) today at 8:30 this time estimated 1.61M, previously which was 1.594M. CANADA Core CPI (MoM) (Jul) today at 8:30 previously which was 0.3%. US Crude Oil Inventories today at 10:30 this time estimated -1.055M, previously which was -0.447M.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.37460, TAKE PROFIT AT 1.37140 AND STOP LOSS AT 1.37771

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.17177, TAKE PROFIT AT 1.17009 AND STOP LOSS AT 1.17433

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 109.549, TAKE PROFIT AT 109.430 AND STOP LOSS AT 109.726

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.91362, TAKE PROFIT AT 0.91208 AND STOP LOSS AT 0.91543

DAX 30

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 15932 TAKE PROFIT AT 15812.3 AND STOP LOSS AT 15965.6

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 66.89 TAKE PROFIT AT 65.72 AND STOP LOSS AT 67.71

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1793.00, TAKE PROFIT AT 1805.27 AND STOP AT 1783.93

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 45114.97 TAKE PROFIT AT 46642.67 AND STOP AT 43783.18

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