Technical Analysis Report Today – 20 July 2021

Technical Analysis Report Today – 20 July 2021

Asian stocks were down early on Tuesday. The Shanghai composite is down 0.53% at 3,520.61. Overall, the Singapore MSCI up 0.27% at 353.90. Over in Hong Kong, the Hang Seng Index down 1.18% at 27,144. In Japan, the Nikkei 225 down 0.80% at 27,380, while the Topix index is down 0.89% at 1888.5. South Korea’s Kospi down 0.64% to 3223.37. Australia S&P/ASX 200 down 0.53% at 7247.6.

European equities Monday closing. The DAX futures contract in Germany traded down 2.62% at 15133.20, CAC 40 futures down 2.54% at 6295.98 and the UK 100 futures contract in the U.K. down 2.34% at 6,844.40.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 2.09% at 33962.05. The S&P 500 down 1.59% to 4258.48 and the Nasdaq 100 up 0.03% at 14609.6, NYSE closes at 16052.71 down 1.91%.

In the Forex market, GBPUSD down 0.09% at 1.36608. The USDJPY up 0.05% at 109.483. The USDCHF up 0.27% at 0.91952. EURUSD down 0.13% at 1.17816, EUR/GBP flat at 0.86239. The USD/CNY flat at 6.4892, at the time of writing.

In the commodity market U.S. Gold futures up 0.15% at $1,815.09. Elsewhere, Silver futures down 0.15% to $25.133 per ounce, Platinum up 0.23% at $1077.20 per ounce, and Palladium up 0.04% to $2,594.62.

Crude Oil mix on Tuesday; Brent crude oil up 0.07% at $68.80 per barrel while U.S. West Texas Intermediate (CLc1) is down 1.95% at $71.50.

In the Cryptocurrency Markets, BTCUSD at 29646.51 down 3.77%, Ethereum at 1745.36 down 3.90%, Litecoin at 106.01 down 6.24%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

NVIDIA Corp. up 3.407% at $751.19, ETSY Inc. up 3.205% at $190.33, MODERNA Inc. up 9.482% to $313.59, OKTA Inc. up 2.41% to $241.35, DOCUSIGN Inc. up 2.634% to $289.48, APPLE Inc. down 2.691% at $142.45.

Economic news:

US: Treasury Secretary Janet Yellen told regulators Monday that the U.S. government must move quickly to establish a regulatory framework for stablecoins, a rapidly growing class of digital currencies.

A group of U.S. regulators plans to issue recommendations in the coming months for fixing any regulatory gaps around stable coins, the Treasury Department said in a statement.

Monday’s meeting of the President’s Working Group on Financial Markets, which convenes top financial watchdogs, underscores how quickly policymakers are moving to ensure their rules can keep up with rapid technological changes across digital currencies.

The group discussed the rapid growth of stable coins, which are cryptocurrencies that attempt to peg their values to a conventional currency, like the U.S. dollar, according to the Treasury. Regulators discussed their potential uses, as well as risks to end users and the financial system.

Eurozone: The European Union has launched a legal challenge at the World Trade Organization against Russian measures it says restrict or prevent EU companies from selling goods to Russian state-owned enterprises.

“These practices seem to be contrary to WTO rules, which require that Russia may not discriminate against foreign companies in this area,” the European Commission, the EU’s executive body, said in a statement on Monday.

The first step in a WTO dispute is a period of consultations, typically of 60 days, before an adjudicating panel can be chosen.

The Commission, which oversees trade for the 27-member EU, said Russia had gradually expanded its policy of restrictions to replace foreign goods and services in procurement contracts since 2015.

The Commission said the challenge centred on three specific Russian measures it says are incompatible with WTO law requiring members to treat foreign and domestic producers in a non-discriminatory way.

Important Data: US Building Permits (Jun) today at 8:30 this time estimated 1.7M, previously which was 1.683M. RUSSIA GDP Monthly (YoY) today at 14:00 previously which was 10.9%. US API Weekly Crude Oil Stock today at 16:30 previously which was -4.079M. JAPAN Exports (YoY) (Jun) today at 19:50 this time estimated 46.2%, previously which was 49.6%.            

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.36600, TAKE PROFIT AT 1.36500 AND STOP LOSS AT 1.36692

EURUSD

TRADE SUGGESTION- SELL AT 1.17787, TAKE PROFIT AT 1.17557 AND STOP LOSS AT 1.18174

USDJPY

TRADE SUGGESTION- SELL AT 109.497, TAKE PROFIT AT 109.290 AND STOP LOSS AT 109.693

USDCHF

TRADE SUGGESTION- SELL AT 0.91895, TAKE PROFIT AT 0.91707 AND STOP LOSS AT 0.9202

CAC 40

TRADE SUGGESTION- SELL AT 6343.6 TAKE PROFIT AT 6282.5 AND STOP LOSS AT 6397.5

WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 67.15 TAKE PROFIT AT 66.20 AND STOP LOSS AT 67.68

GOLD

TRADE SUGGESTION- BUY AT 1815.43, TAKE PROFIT AT 1822.23 AND STOP AT 1810.15

ETHEREUM

TRADE SUGGESTION- SELL AT 1759.44 TAKE PROFIT AT 1646.66 AND STOP AT 1839.66

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