Technical Analysis Report Today – 18 June 2021

Technical Analysis Report Today – 18 June 2021

Asian shares inched higher on Friday. The Shanghai composite is down 0.49% at 3,508.29. Overall, the Singapore MSCI down 0.03% at 356.05. Over in Hong Kong, the Hang Seng Index up 0.79% to 28,656. In Japan, the Nikkei 225 down 0.17% at 28,950, while the Topix index is down 0.92% at 1944.5. South Korea’s Kospi up 0.12% to 3269.08. Australia S&P/ASX 200 up 0.15% at 7369.8.

European equities Thursday closing. The DAX futures contract in Germany traded 0.11% up at 15727.67, CAC 40 futures up 0.20% at 6666.27 and the UK 100 futures contract in the U.K. down 0.44% at 7,153.44.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.62% at 33823.46 the S&P 500 down 0.04% to 4221.85 and the Nasdaq 100 up 0.06% at 14204.2, NYSE closes at 16411.64 down 0.79%.

In the Forex market, GBPUSD down 0.05% at 1.39176. The USDJPY up 0.06% at 110.230. The USDCHF down 0.02% at 0.91744. EURUSD up 0.08% at 1.19143, EUR/GBP up 0.19% at 0.85605. The USD/CNY down 0.03% at 6.4458, at the time of writing.

In the commodity market U.S. Gold futures up 0.68% at $1,784.61. Elsewhere, Silver futures up 1.21% to $26.180 per ounce, Platinum up 2.05% at $1075.05 per ounce, and Palladium up 2.63% to $2,548.13.

Crude Oil down on Friday; Brent crude oil down 0.68% to $72.50 barrel while U.S. West Texas Intermediate (CLc1) is down 0.51% at $70.12.

In the Cryptocurrency Markets, BTCUSD at 38024.96 down 0.19%, Ethereum at 2352.02 down 0.81%, Litecoin at 166.26 down 0.46%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

NVIDIA Corp. up 4.756% at $746.29, MOSIAC Co. down 7.044% at $30.35, OKTA Inc. up 4.005% to $232.16, DOCUSIGN Inc. up 2.979% to $260.61, APPLE Inc. up 1.26% to $131.79, CATERPILLAR Inc. down 3.55% at $209.45.

Economic news:

US: Black workers in the United States continue to earn less than their white counterparts even as American companies are raising diversity and inclusion as a cornerstone of their brands and business strategies, according to a report published on Thursday.

The Conference Board report attributed the wage gaps to a range of factors, including geographical segregation and labour market segmentation, as well as different access to educational opportunities, social and professional networks.

“As Americans mark Juneteenth, business leaders and policymakers alike must recognize the recent trends in racial disparities in the 21st century economy,” said Gad Levanon, labour markets vice president at The Conference Board in Washington. “Reversing these trends will require addressing deeply rooted labour market segmentation and geographical segregation in restricting access to high-growth fields.”

Juneteenth is a holiday celebrated on June 19 commemorating the end of the legal enslavement of Black Americans. On Thursday, it became the 11th federally recognized holiday.

Eurozone: British inflation can rise above 3% before the Bank of England feels discomfort, according to a Reuters poll of economists who also said the economy would expand faster than previously thought this quarter as more pandemic restrictions are lifted.

The central bank has a 2% inflation target, but the rate unexpectedly jumped above that in May for the first time in almost two years and hit 2.1%, part of a post-lockdown climbs in prices that is expected to gather pace.

Inflation will peak at 2.4% in the final quarter of this year before gradually scaling down, the June 14-17 poll found. The Bank will tolerate it at 3.0-3.5% before feeling discomfort, medians showed.

“We think high inflation will be temporary as this year’s price rises give way to a sharper fall in inflation next year due to base effects,” said George Buckley at Nomura.

“At the same time, we expect the BoE to be keen to protect what could prove to be a fragile recovery, with output well below its pre-pandemic path.”

Important Data: CANADA New Housing Price Index (MoM) (May) today at 8:30 previously which was 1.9%. UK        Retail Sales (YoY) (May) today at 2:00 this time estimated 29.0%, previously which was 42.4%. Germany PPI (MoM) (May)         today at 2:00 this time estimated 0.7%, previously which was 0.8%. JAPAN BoJ Press Conference today at 2:30.

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.39043, TAKE PROFIT AT 1.38484 AND STOP LOSS AT 1.39446

EURUSD

TRADE SUGGESTION- SELL AT 1.19046, TAKE PROFIT AT 1.18653 AND STOP LOSS AT 1.19388

CHFJPY

TRADE SUGGESTION- SELL AT 119.924, TAKE PROFIT AT 119.790 AND STOP LOSS AT 120.100

NZDUSD

TRADE SUGGESTION- SELL AT 0.69658, TAKE PROFIT AT 0.69379 AND STOP LOSS AT 0.7000

DAX 30

TRADE SUGGESTION- BUY AT 15740.3 TAKE PROFIT AT 15759.6 AND STOP LOSS AT 15731.7

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 70.25 TAKE PROFIT AT 70.60 AND STOP LOSS AT 70.00

GOLD

TRADE SUGGESTION- SELL AT 1782.73, TAKE PROFIT AT 1769.08 AND STOP AT 1797.33

RIPPLE

TRADE SUGGESTION- SELL AT 0.8421 TAKE PROFIT AT 0.8170 AND STOP AT 0.8739

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