Technical Analysis Report Today – 21 June 2021

Technical Analysis Report Today – 21 June 2021

Asia Pacific stocks were mostly down Monday morning. The Shanghai composite is down 0.14% at 3,520.00. Overall, the Singapore MSCI down 1.43% at 351.25. Over in Hong Kong, the Hang Seng Index down 1.39% to 28,362. In Japan, the Nikkei 225 down 3.63% at 27,880, while the Topix index is down 2.45% at 1893.5. South Korea’s Kospi down 1.00% to 3235.41. Australia S&P/ASX 200 down 1.65% at 7247.6.

European equities Friday closing. The DAX futures contract in Germany traded 1.78% down at 15448.04, CAC 40 futures down 1.46% at 6569.17 and the UK 100 futures contract in the U.K. down 0.82% at 6,957.5.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.58% at 33290.09 the S&P 500 down 1.31% to 4166.46 and the Nasdaq 100 down 0.15% at 14014.0, NYSE closes at 16143.95 down 1.63%.

In the Forex market, GBPUSD up 0.01% at 1.38. The USDJPY down 0.35% at 109.825. The USDCHF up 0.01% at 0.92121. EURUSD flat at 1.18604, EUR/GBP up 0.16% at 0.85938. The USD/CNY up 0.25% at 6.4688, at the time of writing.

In the commodity market U.S. Gold futures up 0.43% at $1,770.94. Elsewhere, Silver futures down 0.03% to $25.771 per ounce, Platinum down 0.40% at $1029.49 per ounce, and Palladium up 0.79% to $2,485.34.

Crude Oil up on Monday; Brent crude oil up 0.49% to $73.60 barrel while U.S. West Texas Intermediate (CLc1) is up 0.21% at $70.27.

In the Cryptocurrency Markets, BTCUSD at 34074.22 down 4.18%, Ethereum at 2106.98 down 6.05%, Litecoin at 147.76 down 4.48%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

LENNAR Corp. up 3.719% at $98.17, ADOBE Inc. up 2.581% at $565.59, POOL Corp. up 1.258% to $442.02, EBAY Inc. down 3.169% to $63.26, MICRON Tech. down 4.576% to $76.95, NVR Inc. up 1.865% at $4785.14.

Economic news:

US: A bipartisan infrastructure plan costing a little over $1 trillion, only about a fourth of what President Joe Biden initially proposed, has been gaining support in the U.S. Senate, but disputes continued on Sunday over how it should be funded.

Biden told reporters last week that he will have a response to the plan as soon as Monday after reviewing it. Twenty-one of the 100 U.S. senators – including 11 Republicans, nine Democrats and one independent who caucuses with Democrats – are working on the framework to rebuild roads, bridges and other traditional infrastructure that sources said would cost $1.2 trillion over eight years.

“President Biden, if you want an infrastructure deal of a trillion dollars, it’s there for the taking. You just need to get involved and lead,” one of the 21 senators, Republican Senator Lindsey Graham (NYSE:GHM), said on Fox News Sunday.

Biden, seeking to fuel growth after the pandemic and address income inequality, had initially proposed about $4 trillion be spent on a broader definition of infrastructure, including fighting climate change and providing care for children and the elderly.

But the White House trimmed the offer to about $1.7 trillion in talks with senators in a bid to win Republican support which will be needed for any plan to get the 60 votes normally required to advance legislation in the Senate.

Eurozone: European Central Bank policymakers meeting this weekend made “good progress” in reshaping the ECB’s strategic goals, including the role it plays in fighting climate change and a revised approach to inflation, President Christine Lagarde said on Sunday.

The 25 members of the ECB’s Governing Council gathered in a hotel near Frankfurt to add impetus to the bank’s first review of its approach to monetary policy in nearly two decades, which it aims to conclude in the second half of the year.

Lagarde gave no detail of the outcome of the talks, saying only that they covered the ECB’s inflation goal and time horizon, links between climate change and monetary policy and the modernisation of central bank communications.

“I am glad we were able to have in-depth discussions and we made good progress in shaping the concrete features of our future monetary policy strategy,” Lagarde said in a statement after the three-day gathering.

Started in early 2020 and then delayed due to the coronavirus pandemic, the overhaul has fuelled a public debate among policymakers.

Important Data: RUSSIA Retail Sales (YoY) (May) today at 12:00 this time estimated 23.0%, previously which was 34.7%. RUSSIA Unemployment Rate (Jun) today at 12:00 this time estimated 5.2%, previously which was 5.2%. US 6-Month Bill Auction  today at 11:30 previously which was 0.04%. EURO ZONE ECB McCaul Speaks today at 8:00.

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

USDJPY

TRADE SUGGESTION- BUY AT 109.875, TAKE PROFIT AT 110.138 AND STOP LOSS AT 109.671

USDCHF

TRADE SUGGESTION- BUY AT 0.92182, TAKE PROFIT AT 0.92392 AND STOP LOSS AT 0.92099

HANG SENG

TRADE SUGGESTION- SELL AT 28351.0 TAKE PROFIT AT 28147.0 AND STOP LOSS AT 28517.0

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 71.63 TAKE PROFIT AT 71.99 AND STOP LOSS AT 71.37

GOLD

TRADE SUGGESTION- SELL AT 1777.00, TAKE PROFIT AT 1761.40 AND STOP AT 1784.05

LITECOIN USD

TRADE SUGGESTION- SELL AT 139.15 TAKE PROFIT AT 131.75 AND STOP AT 144.51

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