Technical Analysis Report Today – 21 July 2021

Technical Analysis

Technical Analysis Report Today – 21 July 2021

Asian shares stumbled on Wednesday. The Shanghai Composite is up 0.74% at 3,562.97. Overall, the Singapore MSCI down 0.34% at 354.10. Over in Hong Kong, the Hang Seng Index down 0.34% at 27,141. In Japan, the Nikkei 225 up 0.55% at 27,560, while the Topix index is up 0.87% at 1907.5. South Korea’s Kospi down 0.52% to 3215.91. Australia S&P/ASX 200 up 0.78% at 7308.7.

European equities Tuesday closing. The DAX futures contract in Germany traded up 0.55% at 15216.27, CAC 40 futures up 0.73% at 6392.88 and the UK 100 futures contract in the U.K. up 0.43% at 6,936.00.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.62% at 34512.00. The S&P 500 up 1.52% to 4323.05 and the Nasdaq 100 down 0.02% at 14737.2, NYSE closes at 16321.93 up 1.68%.

In the Forex market, GBPUSD down 0.16% at 1.3598. The USDJPY up 0.08% at 109.927. The USDCHF up 0.16% at 0.92269. EURUSD down 0.17% at 1.17564, EUR/GBP up 0.09% at 0.86449. The USD/CNY down 0.15% at 6.4753, at the time of writing.

In the commodity market U.S. Gold futures up 0.04% at $1,810.54. Elsewhere, Silver futures up 0.77% to $25.116 per ounce, Platinum up 0.34% at $1071.68 per ounce, and Palladium up 0.69% to $2,659.80.

Crude Oil up on Wednesday; Brent crude oil up 0.80% at $69.17 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.96% at $67.03.

In the Cryptocurrency Markets, BTCUSD at 30802.73 up 3.41%, Ethereum at 1871.26 up 4.74%, Litecoin at 111.75 up 4.24%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

CARNIVAL Corp. up 7.454% at $21.19, PVH Corp. up 6.397% at $99.8, AUTODESK Inc. up 3.066% to $296.12, DEXCOM Inc. up 2.908% to $447.7, DOCUSIGN Inc. up 4.073% to $301.27, CLOROX Co. down 2.85% at $182.39.

Economic news:

US: U.S. homebuilding increased more than expected in June, but permits for future home construction fell to an eight-month low, likely reflecting hesitancy caused by expensive building materials as well as shortages of labor and land.

The report from the Commerce Department on Tuesday suggested a severe shortage of houses, which has boosted prices and sparked bidding wars across the country, could persist for a while. Demand for houses is being driven by low mortgage rates and a desire for more spacious accommodations during the COVID-19 pandemic.

Though lumber prices are coming down from record highs, builders are paying more for steel, concrete and lighting, and are grappling with shortages of appliances like refrigerators.

“Reports of multi-month delays in the delivery of windows, heating units, refrigerators and other items have popped up across the country, delaying delivery of homes and forcing builders to cap activity, and many builders continue to point to a shortage of available workers as a separate challenge,” said Matthew Speakman, an economist at Zillow.

Eurozone: The European Central Bank starts a potentially heated two-day meeting on Wednesday, with officials needing to decide how their newly unveiled monetary strategy affects near-term policy.

After raising their inflation goal to 2% earlier this month and pledging to be “forceful or persistent” to hit it, the challenge for policy makers is to make clear what such an approach means for interest rates and bond-buying. Disagreements immediately surfaced when drafts of potential wording were circulated, Bloomberg reported last week.

President Christine Lagarde heightened the anticipation by promising “interesting variations and changes” to Thursday’s policy announcement and her press conference. She also acknowledged that the unanimity she achieved in the strategy review when it concluded this month will be hard to replicate.

Forward guidance, the language central banks use to describe the future policy path, has become an important tool in times of uncertainty. The aim is to prevent unwelcome market speculation that increases volatility and undermines the economy.

Important Data: US Crude Oil Inventories today at 10:30 this time estimated

-4.466M, previously which was -7.897M. CANADA New Housing Price Index (MoM) (Jun) today at 8:30 previously which was 1.4%. AUSTRALIA NAB Quarterly Business Confidence today at 21:30 previously which was 17. US Cushing Crude Oil Inventories today at 10:30 previously which was -1.589M.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.35970, TAKE PROFIT AT 1.35872 AND STOP LOSS AT 1.36089

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.17506, TAKE PROFIT AT 1.17491 AND STOP LOSS AT 1.17514

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.86341, TAKE PROFIT AT 0.86197 AND STOP LOSS AT 0.86604

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 129.476, TAKE PROFIT AT 129.273 AND STOP LOSS AT 129.605

NIKKEI 225

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 27682.0 TAKE PROFIT AT 27398.0 AND STOP LOSS AT 27820.0

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 67.41 TAKE PROFIT AT 66.31 AND STOP LOSS AT 68.39

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1804.76, TAKE PROFIT AT 1798.47 AND STOP AT 1811.71

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 122.41 TAKE PROFIT AT 104.63 AND STOP AT 124.79

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