Technical Analysis Report Today – 23 June 2021

Technical Analysis Report Today – 23 June 2021

Asia Pacific stocks were mostly up Wednesday morning. The Shanghai composite is up 0.35% at 3,570.91. Overall, the Singapore MSCI up 0.62% at 355.20. Over in Hong Kong, the Hang Seng Index up 1.72% to 28,679. In Japan, the Nikkei 225 up 0.38% at 28,860, while the Topix index is down 0.26% at 1947.5. South Korea’s Kospi up 0.40% to 3277.09. Australia S&P/ASX 200 down 0.66% at 7294.4.

European equities Tuesday closing. The DAX futures contract in Germany traded 0.21% up at 15636.33, CAC 40 futures up 0.14% at 6611.51 and the UK 100 futures contract in the U.K. up 0.39% at 7,090.02.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.20% at 33945.59 the S&P 500 up 0.51% to 4246.43 and the Nasdaq 100 up 0.18% at 14310.8, NYSE closes at 16449.01 up 0.23%.

In the Forex market, GBPUSD up 0.01% at 1.39468. The USDJPY up 0.19% at 110.815. The USDCHF up 0.21% at 0.91942. EURUSD down 0.09% at 1.19263, EUR/GBP down 0.12% at 0.85511. The USD/CNY up 0.08% at 6.4865, at the time of writing.

In the commodity market U.S. Gold futures up 0.19% at $1,781.53. Elsewhere, Silver futures up 0.61% to $25.880 per ounce, Platinum up 0.33% at $1086.11 per ounce, and Palladium up 1.36% to $2,592.75.

Crude Oil mix on Wednesday; Brent crude oil up 0.90% to $75.40 barrel while U.S. West Texas Intermediate (CLc1) is down 0.18% at $70.58.

In the Cryptocurrency Markets, BTCUSD at 34123.39 up 4.85%, Ethereum at 2023.67 up 7.63%, Litecoin at 129.85 up 8.56%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

ETSY Inc. up 4.21% at $177.98, TWITTER Inc. up 2.937% at $63.78, NETFLIX Inc. up 2.378% to $508.82, CARNIVAL Corp. down 2.128% to $28.06, BIOGEN Inc. down 1.709% to $374.4, FACEBOOK up 2.028% at $339.03.

Economic news:

US: Federal Reserve Chair Jerome Powell on Tuesday reaffirmed the U.S. central bank’s intent to encourage a “broad and inclusive” recovery of the job market, and not to raise interest rates too quickly based only on the fear of coming inflation.

“We will not raise interest rates pre-emptively because we fear the possible onset of inflation. We will wait for evidence of actual inflation or other imbalances,” Powell said in a hearing before a U.S. House of Representatives panel.

Recent price increases have pushed the consumer price index to a 13-year high, prompting Republicans on the committee to offer charts detailing spikes in consumer items like bacon and used cars to suggest price increases are getting out of hand.

“We have unstable employment and higher inflation,” said Representative Jim Jordan, an Ohio Republican, referring to the Fed’s congressionally mandated goals of ensuring maximum employment and stable prices. “Something has to give.”

Eurozone: Boris Johnson’s government is preparing to allow Britons who have been fully vaccinated against coronavirus to travel to more than 150 countries without the need to quarantine on their return to England later this summer.

Officials expect the new policy to be signed off by government in the next few days, paving the way for the reopening of international journeys to popular destinations in Europe and the U.S.

But the change is unlikely to come into force before August, and ministers are expected to keep a tight limit on the number of destinations on the so-called green list for quarantine-free travel when they provide an update this week.

Final decisions on the quarantine policy and the green list have not yet been taken inside government, and both will be subject to scientific advice on the status of the pandemic.

“The whole point of the vaccine program is to be able to remove restrictions,” Health Secretary Matt Hancock told LBC radio on Tuesday. “We are working on a plan for double vaccinated people, using tests and to have that testing regime in place instead of having to have the quarantine in some circumstances.”

Important Data: US New Home Sales (May) today at 10:00 this time estimated 870K, previously which was 863K. US Crude Oil Inventories today at 10:30 this time estimated -3.942M, previously which was -7.355M. CANADA Core Retail Sales (MoM) (Apr) today at 8:30 this time estimated -5%, previously which was 4.3%. German Manufacturing PMI (Jun) today at 3:30 this time estimated 63.0, previously which was 64.4.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.39555, TAKE PROFIT AT 1.39482 AND STOP LOSS AT 1.39665

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.19213, TAKE PROFIT AT 1.18965 AND STOP LOSS AT 1.19456

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 120.710, TAKE PROFIT AT 120.527 AND STOP LOSS AT 120.902

NZDUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.70165, TAKE PROFIT AT 0.69984 AND STOP LOSS AT 0.70378

DJ EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 4103.0 TAKE PROFIT AT 4122.0 AND STOP LOSS AT 4088.0

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 73.21 TAKE PROFIT AT 75.12 AND STOP LOSS AT 72.10

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1780.04, TAKE PROFIT AT 1771.25 AND STOP AT 1789.47

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 2007.00 TAKE PROFIT AT 1921.29 AND STOP AT 2076.35

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