Technical Analysis Report Today – 22 June 2021

Technical Analysis Report Today – 22 June 2021

Asia Pacific stocks were mostly up Tuesday morning. The Shanghai composite is up 0.44% at 3,545.69. Overall, the Singapore MSCI down 0.21% at 353.55. Over in Hong Kong, the Hang Seng Index down 0.42% to 28,303. In Japan, the Nikkei 225 up 2.86% at 28,820, while the Topix index is down 2.95% at 1956.0. South Korea’s Kospi up 0.78% to 3264.45. Australia S&P/ASX 200 up 1.60% at 7350.8.

European equities Monday closing. The DAX futures contract in Germany traded 1.00% up at 15603.24, CAC 40 futures up 0.51% at 6602.55 and the UK 100 futures contract in the U.K. flat at 7,088.0.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 1.76% at 33876.98 the S&P 500 up 1.40% to 4224.80 and the Nasdaq 100 down 0.06% at 14145.0, NYSE closes at 16411.97 up 1.66%.

In the Forex market, GBPUSD down 0.24% at 1.38. The USDJPY up 0.16% at 110.469. The USDCHF up 0.32% at 0.92060. EURUSD down 0.19% at 1.18944, EUR/GBP up 0.10% at 0.85573. The USD/CNY up 0.02% at 6.4679, at the time of writing.

In the commodity market U.S. Gold futures up 0.02% at $1,783.00. Elsewhere, Silver futures down 0.15% to $25.873 per ounce, Platinum up 1.43% at $1063.03 per ounce, and Palladium up 0.04% to $2,580.00.

Crude Oil up on Tuesday; Brent crude oil up 0.43% to $75.14 barrel while U.S. West Texas Intermediate (CLc1) is up 0.63% at $70.71.

In the Cryptocurrency Markets, BTCUSD at 32675.87 up 3.31%, Ethereum at 1944.00 up 2.94%, Litecoin at 129.15 up 3.58%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

HESS Corp. up 7.173% at $90.40, Xilinx Inc. down 3.328% at $127.53, MODERNA Inc. up 4.543% to $208.24, CDW Corp. up 2.383% to $169.73, OKTA Inc. down 2.541% to $233.18, BIOGEN Inc. down 1.939% at $380.91.

Economic news:

US: U.S. President Joe Biden held separate talks on Monday with two key Democratic senators about a bipartisan infrastructure plan and told them he was encouraged by the proposal but still had questions about how to pay for the bill, the White House said.

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

Biden met separately with Senators Joe Manchin and Kyrsten Sinema and “told them he was encouraged by what has taken shape but that he still has questions about the policy as well as the means for financing the bipartisan group’s proposal,” the White House said.

Biden also told the senators that he was “focused on budget resolution discussions in the Senate,” it said, an apparent reference to Democratic preparations to pass parts of his broader infrastructure plans opposed by Republicans using a procedure called reconciliation that requires only a simple majority.

There are 50 Republicans, 48 Democrats and two independents who caucus with Democrats in the 100-seat Senate and Vice President Kamala Harris has the tie-breaking vote for the Democrats.

Eurozone: The euro zone and the United States are “clearly in a different situation” when it comes the outlook for inflation, European Central Bank President Christine Lagarde said on Monday, playing down any impact from across the Atlantic.

With the U.S. economy reopening and prices rebounding fast, Federal Reserve officials have started discussing ending their bond purchase programme and last week brought forward their expectations for the first rate hike since the start of the coronavirus pandemic.

This has triggered market speculation about rising inflation and a tightening of monetary policy across the globe.

But Lagarde rejected comparisons between both economies, saying the U.S. recovery was farther ahead of the euro zones.

“The United States and Europe are clearly in a different situation,” Lagarde told the European Parliament. “It’s tempting to compare but it’s not very judicious given the many differences between the two economies.”

Important Data: US Existing Home Sales (May) today at 10:00 this time estimated 5.72M, previously which was 5.85M. API Weekly Crude Oil Stock today at 16:30 previously which was -8.537M. CBI Industrial Trends Orders (Jun) today at 6:00 this time estimated 18, previously which was 17. EURO ZONE ECB’s Lane Speaks today at 10:00.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.38989, TAKE PROFIT AT 1.38603 AND STOP LOSS AT 1.39270

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.19009, TAKE PROFIT AT 1.18859 AND STOP LOSS AT 1.19162

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 131.416, TAKE PROFIT AT 131.266 AND STOP LOSS AT 131.528

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 153.364, TAKE PROFIT AT 153.701 AND STOP LOSS AT 153.111

DOW JONES

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 33791.0 TAKE PROFIT AT 33641.0 AND STOP LOSS AT 33898.0

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 72.78 TAKE PROFIT AT 73.03 AND STOP LOSS AT 72.74

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1780.36, TAKE PROFIT AT 1749.45 AND STOP AT 1797.23

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 32613.30 TAKE PROFIT AT 31844.77 AND STOP AT 33156.45

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