Technical Analysis Report Today – 23 July 2021

Technical Analysis

Technical Analysis Report Today – 23 July 2021

Asian share markets were in a mixed mood on Friday. The Shanghai composite is down 0.73% at 3,548.59. Overall, the Singapore MSCI down 0.36% at 360.45. Over in Hong Kong, the Hang Seng Index down 1.07% at 27,410. In Japan, the Nikkei 225 flat at 27,910, while the Topix index is flat at 1935.5. South Korea’s Kospi up 0.13% to 3254.50. Australia S&P/ASX 200 down 0.01% at 7385.3.

European equities Thursday closing. The DAX futures contract in Germany traded up 0.60% at 15514.54, CAC 40 futures up 0.26% at 6481.60 and the UK 100 futures contract in the U.K. up 0.15% at 6,978.20.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.07% at 34823.36. The S&P 500 up 0.20% to 4367.49 and the Nasdaq 100 down 0.05% at 14981.5, NYSE closes at 16455.91 down 0.29%.

In the Forex market, GBPUSD down 0.01% at 1.37659. The USDJPY up 0.13% at 110.26. The USDCHF up 0.12% at 0.91989. EURUSD flat at 1.17701, EUR/GBP up 0.02% at 0.85499. The USD/CNY up 0.02% at 6.4716, at the time of writing.

In the commodity market U.S. Gold futures down 0.12% at $1,804.45. Elsewhere, Silver futures down 0.15% to $25.363 per ounce, Platinum flat at $1093.53 per ounce, and Palladium up 0.30% to $2,728.00.

Crude Oil mix on Friday; Brent crude oil down 0.15% at $73.52 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.24% at $72.36.

In the Cryptocurrency Markets, BTCUSD at 32300.00 up 3.39%, Ethereum at 2076.91 up 2.66%, Litecoin at 121.20 up 0.43%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Domino’s Pizza Inc. up 14.552% at $538.82, CSX Corp. up 3.48% at $32.67,

ETSY Inc. up 3.09% to $201.85, Adobe Inc. up 1.865% to $623.68,

eBay Inc. up 3.149% to $72.06, Texas Instruments Inc. down 5.318% at $183.91.

Economic news:

US: The Biden administration on Thursday released $3 billion in COVID-19 rescue funds aimed at helping localities bolster their economies in the wake of the pandemic, calling on communities to seek funding for a range of revitalization projects.

The funding, authorized by the $1.9 trillion American Rescue Plan Act, is part of President Joe Biden’s “Build Back Better” agenda to rebuild the nation after the novel coronavirus triggered widespread shutdowns and led to more than 600,000 U.S. deaths so far. The Democrat-backed bill was passed in March.

New funding will be available to communities nationwide through six programs run through the Department of Commerce targeting jobs, for instance, in tourism, the agency said in a statement.

“This investment will ensure that they have the resources to recover from the pandemic and will help create new jobs and opportunities, including through the development or expansion of a new industry sector,” the Commerce Department said.

Eurozone: The European Central Bank pledged on Thursday to keep interest rates at record lows for even longer to boost sluggish inflation and warned that the rapidly spreading Delta variant of the coronavirus poses a risk to the euro zone’s recovery.

The central bank of the 19 countries that share the euro said it would not hike borrowing costs until it sees inflation reach its 2% target “well ahead of the end of its projection horizon and durably” — a controversial decision that generated significant dissent.

“We did so to underline our commitment to maintain a persistently accommodative monetary policy stance to meet our inflation target,” ECB President Christine Lagarde told a news conference.

She said the ECB wants to see inflation head to 2% by the mid-point of its forecast horizon, which currently stretches to 2023 and is extended by one year every December, and that any deviation above the target should be incidental.

Important Data: US Retail Sales (MoM) (Jun) today at 2:00 this time estimated

0.4%, previously which was -1.4%. GERMANY Manufacturing PMI (Jul) today at 3:30 this time estimated 64.2, previously which was 65.1. UK Composite PMI   today at 4:30 this time estimated 61.9, previously which was 62.2. CANADA Core Retail Sales (MoM) (May) today at 8:30 this time estimated -2.2%, previously which was -7.2%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.37542, TAKE PROFIT AT 1.37395 AND STOP LOSS AT 1.37788

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.17619, TAKE PROFIT AT 1.17455 AND STOP LOSS AT 1.17831

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 151.679, TAKE PROFIT AT 151.959 AND STOP LOSS AT 151.405

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 119.821, TAKE PROFIT AT 119.606 AND STOP LOSS AT 120.137

DOW JONES

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 34782 TAKE PROFIT AT 34902 AND STOP LOSS AT 34660

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 71.64 TAKE PROFIT AT 71.20 AND STOP LOSS AT 72.24

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1806.72, TAKE PROFIT AT 1797.19 AND STOP AT 1812.56

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 2074.58 TAKE PROFIT AT 2140.74 AND STOP AT 2032.59

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