Technical Analysis Report Today – 18 May 2021

Technical Analysis Report Today – 18 May 2021

Asian shares rose on Tuesday. The Shanghai composite is up 0.17% at 3,523.50. Overall, the Singapore MSCI up 2.24% at 355.60. Over in Hong Kong, the Hang Seng Index up 1.41% to 28,487. In Japan, the Nikkei 225 up 2.48% at 28,460, while the Topix index is up 1.79% at 1909.5. South Korea’s Kospi up 1.23% to 3173.50. Australia S&P/ASX 200 up 0.60% at 7066.0.

European equities Monday closing. The DAX futures contract in Germany traded 0.13% down at 15396.62, CAC 40 futures down 0.28% at 6367.36 and the UK 100 futures contract in the U.K. down 0.15% at 7,032.9.

In U.S. on Wall Street, the Dow Jones Industrial Average closed 0.16% down at 34327.8 the S&P 500 down 0.25% to 4163.3 and the Nasdaq 100 up 0.81% at 13430.3, NYSE closes at 16422.96 up 0.55%.

In the Forex market, GBPUSD up 0.43% at 1.41874. The USDJPY down 0.13% at 109.049. The USDCHF down 0.42% at 0.89940. EURUSD up 0.31% at 1.21867, EUR/GBP down 0.02% at 0.85906. The USD/CNY down 0.22% at 6.4248, at the time of writing.

In the commodity market U.S. Gold futures up 0.224% at $1,870.26. Elsewhere, Silver futures up 1.24% to $28.526 per ounce, Platinum up 0.27% at $1242.32 per ounce, and Palladium up 0.44% to $2,915.87.

Crude Oil up on Tuesday; Brent crude oil up 0.36% to $69.79 barrel while U.S. West Texas Intermediate (CLc1) is up 0.41% at $66.56.

In the Cryptocurrency Markets, BTCUSD at 44968.03 up 3.08%, Ethereum at 3472.58 up 5.83%, Litecoin at 302.74 up 7.63%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

SEAGATE TECH. up 6.39% at $104.23, WESTERN DIGITAL up 6.331% at $76.42, COMCAST Corp. down 5.496% to $55.455, DISCOVERY Inc. down 5.049% to $33.85, AT&T Inc. down 2.699% to $31.37, NIEK Inc. up 0.353% at $136.41.

Economic news:

US: The United States and Canada urged Mexico to respect foreign investments during trade discussions on Monday, officials said, while Washington also raised issues over Mexican farm produce.

The talks came at the start of the first meeting of the United States-Mexico-Canada Agreement (USMCA) Free Trade Commission, which centers on the trade accord that last year replaced the North American Free Trade Agreement (USMCA).

Virtual talks were held bilaterally between Mexican Economy Minister Tatiana Clouthier and her counterparts U.S. Trade Representative Katherine Tai and Mary Ng, Canada’s Minister of Small Business, Export Promotion and International Trade.

The Mexican Economy Ministry said Clouthier and Tai discussed auto sector rules of origin, Mexico’s labor market reform, collaboration on environmental issues and ongoing U.S. probes into Mexican agricultural products.

Eurozone: The European Commission wants to propose in 2023 a more unified way of taxing companies in the European Union, hoping that such rules, which have failed to win support in the past, will stand a better chance if they follow global OECD solutions expected this year.

The Commission will present a plan on Tuesday including this proposal and other measures for adjusting the EU’s business taxation to make it more up to date with the modern world, where cross-border business, often carried out via the Internet, is commonplace.

Important Data: US Building Permits (Apr) today at 8:30 this time estimated 1.77M, previously which was 1.759M. AUSTRALIA        Wage Price Index (QoQ) (Q1) today at 21:30 this time estimated 0.5%, previously which was 0.6%. US API Weekly Crude Oil Stock today at 16:30 previously which was -2.533M. EURO ZONE GDP (YoY) (Q1) today at 5:00 previously which was at -1.8%.

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.37671, TAKE PROFIT AT 1.37141 AND STOP LOSS AT 1.38503

EURUSD

TRADE SUGGESTION- SELL AT 1.17572, TAKE PROFIT AT 1.17179 AND STOP LOSS AT 1.17993

GBPJPY

TRADE SUGGESTION- BUY AT 151.390, TAKE PROFIT AT 152.121 AND STOP LOSS AT 150.754

CHFJPY

TRADE SUGGESTION- SELL AT 116.981, TAKE PROFIT AT 116.765 AND STOP LOSS AT 117.215

DOW JONES 

TRADE SUGGESTION- BUY AT 33074 TAKE PROFIT AT 33164 AND STOP LOSS AT 32993

WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 61.37 TAKE PROFIT AT 61.02 AND STOP LOSS AT 61.73

GOLD

TRADE SUGGESTION- SELL AT 1703.85, TAKE PROFIT AT 1699.61 AND STOP AT 1709.27

LITECOIN USD

TRADE SUGGESTION- SELL AT 192.55 TAKE PROFIT AT 186.23 AND STOP AT 199.47

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