Technical Analysis Report Today – 23 August 2021

Technical Analysis

Technical Analysis Report Today – 23 August 2021

Asian shares and oil prices bounced on Monday. The Shanghai composite is up 1.42% at 3,476.18. Overall, the Singapore MSCI down 0.32% at 356.95. Over in Hong Kong, the Hang Seng Index up 1.63% at 25,192. In Japan, the Nikkei 225 up 1.85% at 27,510, while the Topix index is up 1.83% at 1916.0. South Korea’s Kospi up 1.02% to 3091.70. Australia S&P/ASX 200 up 0.35% at 7487.3.

European equities Friday closing. The DAX futures contract in Germany traded up 0.27% at 15808.04, CAC 40 futures up 0.31% at 6626.12 and the UK 100 futures contract in the U.K. up 0.41% at 7,087.91.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.65% at 35120.09. The S&P 500 up 0.52% to 4441.68 and the Nasdaq 100 up 0.27% at 15141.4, NYSE closes at 16516.67 up 0.53%.

In the Forex market, GBPUSD up 0.27% at 1.36573. The USDJPY up 0.18% at 109.968. The USDCHF down 0.02% at 0.91662. EURUSD up 0.13% at 1.1715, EUR/GBP down 0.04% at 0.85776. The USD/CNY down 0.12% at 6.4932, at the time of writing.

In the commodity market U.S. Gold futures up 0.33% at $1,786.60. Elsewhere, Silver futures up 0.99% to $23.240 per ounce, Platinum up 1.78% at $1013.76 per ounce, and Palladium up 1.76% at $2,316.00.

Crude Oil mix on Monday; Brent crude oil up 2.31% at $66.45 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.34% at $68.10.

In the Cryptocurrency Markets, BTCUSD at 50119.12 up 1.70%, Ethereum at 3330.32 up 2.74%, Litecoin at 188.07 up 0.97%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

NVIDIA Corp. up 5.142% at $208.16, Mosaic Co. up 3.889% at $30.72,

ETSY Inc. up 3.635% to $199.27, Corning Inc. down 1.761to $40.17, Domino’s Pizza Inc. down 1.698% to $509.52, Intel Corp. down 0.82% at $52.01.

Economic news:

US: U.S. Vice President Kamala Harris met top leaders in Singapore on Monday on the first working day of her trip to Southeast Asia and struck partnerships to tackle cyber threats, supply disruptions and the COVID-19 pandemic – areas that have emerged as top priorities for President Joe Biden’s administration.

Harris met with Singapore’s Prime Minister Lee Hsien Loong and President Halimah Yacob during a trip aimed at bolstering ties with partners in the region as part of Washington’s efforts to counter China’s growing economic and security influence.

Details of the meeting were shared by senior U.S. administration officials and Harris is expected to hold a press conference with Lee later on Monday. She will also visit the Changi Naval Base and tour the USS Tulsa combat ship.

Singapore is not a U.S. treaty ally, but remains one of its strongest security partners in the region with deep trade ties. However, it also seeks to balance its relationships with the United States and China by not taking sides.

Eurozone: Moscow pledged retaliatory measures after a new set of sanctions imposed by the United States on a Russian ship and two companies involved in the Nord Stream 2 gas pipeline, Russia’s foreign ministry said in a statement on Saturday.

The $11 billion project, which will double the existing Nord Stream pipeline across the Baltic Sea and allow Russia to bypass Ukraine when piping gas to Europe, has been a focal point of tensions between Moscow and Washington.

Washington imposed the sanctions on Friday on a ship, its owner and a construction company, but opponents of the project said the measures were insufficient to stop it.

The United States and Britain also imposed sanctions on Friday on men they said were Russian intelligence operatives responsible for the poisoning one year ago of Kremlin critic Alexei Navalny.

“We view such hostile actions by the Biden administration as dictated by a lack of political will and an unwillingness to build U.S.-Russian relations on a partnership basis,” Maria Zakharova, a spokeswoman for Russia’s Foreign Ministry, was quoted as saying in the statement.

Important Data: UK Services PMI (Aug) today at 4:30 previously which was 59.6. EURO ZONE Services PMI (Aug) today at 4:00 this time estimated 59.8, previously which was 59.8. US Existing Home Sales (Jul) today at 10:00 this time estimated 5.81M, previously which was 5.86M. NEW ZEALAND Retail Sales (QoQ) (Q2) today at 18:45 previously which was 2.5%.        

TECHNICAL SUMMARY         

GBPUSD

TRADE SUGGESTION- SELL AT 1.36420, TAKE PROFIT AT 1.36104 AND STOP LOSS AT 1.36882

EURUSD

TRADE SUGGESTION- SELL AT 1.17060, TAKE PROFIT AT 1.16647 AND STOP LOSS AT 1.17251

USDJPY

TRADE SUGGESTION- SELL AT 109.932, TAKE PROFIT AT 109.809 AND STOP LOSS AT 110.136

USDCHF

TRADE SUGGESTION- BUY AT 0.91643, TAKE PROFIT AT 0.91858 AND STOP LOSS AT 0.91448

FTSE 100

TRADE SUGGESTION- SELL AT 7127 TAKE PROFIT AT 7091.5 AND STOP LOSS AT 7148

WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 63.33 TAKE PROFIT AT 62.54 AND STOP LOSS AT 63.

GOLD

TRADE SUGGESTION- BUY AT 1786.72, TAKE PROFIT AT 1793.64 AND STOP AT 1779.53

LITECOIN USD

TRADE SUGGESTION- BUY AT 187.68 TAKE PROFIT AT 194.56 AND STOP AT 179.48

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