Technical Analysis Report Today – 24 August 2021

Technical Analysis

Technical Analysis Report Today – 24 August 2021

Asia Pacific stocks were up on Tuesday morning. The Shanghai composite is up 1.15% at 3,517.05. Overall, the Singapore MSCI up 0.70% at 357.70. Over in Hong Kong, the Hang Seng Index up 1.80% at 25,538. In Japan, the Nikkei 225 up 0.76% at 27,730, while the Topix index is up 0.81% at 1932.5. South Korea’s Kospi up 1.42% to 3134.54. Australia S&P/ASX 200 up 0.15% at 7501.5.

European equities Monday closing. The DAX futures contract in Germany traded up 0.28% at 15852.79, CAC 40 futures up 0.86% at 6683.11 and the UK 100 futures contract in the U.K. up 0.30% at 7,109.03.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.61% at 35335.72. The S&P 500 up 0.85% to 4479.54 and the Nasdaq 100 up 1.46% at 15312.82, NYSE closes at 16648.54 up 0.80%.

In the Forex market, GBPUSD up 0.26% at 1.37459. The USDJPY up 0.08% at 109.788. The USDCHF up 0.07% at 0.91293. EURUSD flat at 1.1743, EUR/GBP down 0.12% at 0.85436. The USD/CNY down 0.13% at 6.4774, at the time of writing.

In the commodity market U.S. Gold futures down 0.02% at $1,804.61. Elsewhere, Silver futures up 0.21% to $23.622 per ounce, Platinum down 0.28% at $1017.12 per ounce, and Palladium up 0.73% at $2,410.00.

Crude Oil up on Tuesday; Brent crude oil up 0.55% at $69.14 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.69% at $68.57.

In the Cryptocurrency Markets, BTCUSD at 49660.09 up 0.20%, Ethereum at 3335.80 up 0.56%, Litecoin at 186.63 down 0.20%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Moderna Inc. up 7.549% at $411.89, Xilinx Inc. up 6.412% at $153.52,

Marathon Oil Corp. up 5.41% to $11.30, Pool Corp. down 2.37 to $474.9, Dexcom Inc. down 1.208% to $512.72, Illumina Inc. down 1.722% at $478.33.

Economic news:

US: Borrowings by U.S. companies for capital investments rose 9% in July from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Monday.

The companies signed up for $9.9 billion in new loans, leases and lines of credit last month, up from $9.1 billion a year earlier. However, borrowings fell 5% from the previous month.

“Despite supply chain disruptions in some sectors of the economy, signs of inflation, and the emergence of the Delta coronavirus, July new business volume in the equipment finance industry is strong,” ELFA Chief Executive Officer Ralph Petta said in a statement.

Petta also cited a pick-up in consumer spending and slowing unemployment as reasons to be optimistic about equipment investment and industry performance for the second half of the year.

Eurozone: Economic growth in Germany could miss projections this year and the resurgence of the coronavirus pandemic may put unexpected strain on the economy in the autumn, the Bundesbank said in a monthly report on Monday.

Europe’s biggest economy is expected to grow by 3.7% this year and 5.2% in 2022 but the early weeks of the rebound were more timid than projected and that will likely weigh on the full-year figure as well, the Bundesbank said.

Germany is still likely to have enjoyed robust expansion over the summer months, with services benefiting from the easing of restrictions as infection numbers declined, boosting tourism income.

While some restrictions could be reintroduced in the autumn if infections continue to rise, they are unlikely to be as strict as in the past given Germany’s progress in vaccinating its population, the Bundesbank added.

Important Data: US New Home Sales (Jul) today at 10:00 this time estimated 700K, previously which was 676K. US API Weekly Crude Oil Stock today at 16:30, previously which was -1.163M. NEW ZEALAND Trade Balance (YoY) (Jul) today at 18:45 previously which was -250M. AUSTRALIA Construction Work Done (QoQ) (Q2) today at 21:30 this time estimated 2.5%, previously which was 2.4%.  

TECHNICAL SUMMARY        

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.3733, TAKE PROFIT AT 1.37146 AND STOP LOSS AT 1.37618

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.17374, TAKE PROFIT AT 1.17668 AND STOP LOSS AT 1.17188

EURGBP

Technical Analysis
Technical Analysis

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

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 128.960, TAKE PROFIT AT 128.842 AND STOP LOSS AT 129.102

CAC 40

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 6713.1 TAKE PROFIT AT 6652.4 AND STOP LOSS AT 6788.2

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 65.75 TAKE PROFIT AT 65.10 AND STOP LOSS AT 66.33

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1803.44, TAKE PROFIT AT 1809.39 AND STOP AT 1794.10

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 49741.93 TAKE PROFIT AT 51294.62 AND STOP AT 48801.14

 

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