Technical Analysis Report Today – 24 June 2021

Technical Analysis

Technical Analysis Report Today – 24 June 2021

Asia Pacific stocks were mostly up Thursday morning. The Shanghai composite is down 0.15% at 3,561.00. Overall, the Singapore MSCI up 0.08% at 354.45. Over in Hong Kong, the Hang Seng Index up 0.24% to 28,799. In Japan, the Nikkei 225 up 0.10% at 28,840, while the Topix index is down 0.08% at 1942.5. South Korea’s Kospi up 0.38% to 3287.73. Australia S&P/ASX 200 down 0.09% at 7291.8.

European equities Wednesday closing. The DAX futures contract in Germany traded 1.15% down at 15456.39, CAC 40 futures down 0.91% at 6551.07 and the UK 100 futures contract in the U.K. up 0.23% at 7,087.6.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.21% at 33874.25. The S&P 500 down 0.11% to 4241.83 and the Nasdaq 100 up 0.19% at 14318.1, NYSE closes at 16437.62 down 0.07%.

In the Forex market, GBPUSD up 0.02% at 1.39607. The USDJPY up 0.01% at 110.968. The USDCHF up 0.14% at 0.91926. EURUSD down 0.01% at 1.19250, EUR/GBP up 0.05% at 0.85411. The USD/CNY up 0.09% at 6.4801, at the time of writing.

In the commodity market U.S. Gold futures down 0.18% at $1,774.40. Elsewhere, Silver futures up 0.08% to $25.869 per ounce, Platinum down 1.23% at $1075.22 per ounce, and Palladium up 0.19% to $2,618.50.

Crude Oil mix on Thursday; Brent crude oil down 0.21% to $75.24 barrel while U.S. West Texas Intermediate (CLc1) is up 0.01% at $70.59.

In the Cryptocurrency Markets, BTCUSD at 32618.25 down 3.07%, Ethereum at 1912.38 down 2.86%, Litecoin at 128.03 down 0.74%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

TESLA Inc. up 5.269% at $656.57, TWITTER Inc. up 4.249% at $66.49, FORD MOTOR Co. up 3.421% to $15.42, NOV Inc. down 7.38% to $15.06, MODERNA Inc. down 4.21% to $212.04, SEAGEN Inc. down 1.134% at $156.88.

Economic news:

US: U.S. Treasury Secretary Janet Yellen on Wednesday warned Congress that the United States risks a debt default and a new financial crisis as soon as the August recess if lawmakers fail to act quickly to suspend or raise the federal borrowing limit.

In testimony to a Senate Appropriations subcommittee, Yellen said defaulting on U.S. debt obligations would be “unthinkable” and “would have absolutely catastrophic economic consequences.”

Yellen said that to avoid uncertainty for financial markets, Congress should pass new debt limit legislation – allowing the Treasury to continue borrowing – before the latest suspension expires on July 31.

An unprecedented default on U.S. government debt obligations “would precipitate a financial crisis, it would threaten the jobs and savings of Americans at a time when we’re still recovering from the COVID pandemic,” Yellen said.

“I would plead with Congress to simply protect the full faith and credit of the United States by acting to raise or suspend the debt limit as soon as possible.”

Eurozone: The Bank of England will say on Thursday whether it is worried about a recent jump in inflation, which broke above the central bank’s 2% target and looks set to climb higher as Britain reawakens its economy from its coronavirus slumber.

With global policymakers grappling with economic overheating risks against the backdrop of huge stimulus programmes, Governor Andrew Bailey and other BoE officials have mostly said Britain’s faster price growth is likely to prove transitory.

But last week, the U.S. Federal Reserve began to move towards reducing its pandemic stimulus by signalling its first-rate hike in 2023, a year earlier than previous projections, putting the focus on what other central banks might now do.

The BoE is expected to leave its benchmark rate at an all-time low of 0.1% and press on with its 895 billion-pound ($1.25 trillion) bond-buying programme when it announces its June policy decision at 1100 GMT.

But investors are watching to see if any other Monetary Policy Committee members join Chief Economist Andy Haldane who is likely to vote again to scale back the bond-buying programme at his final meeting before leaving the BoE.

Important Data: German Business Expectations (Jun) today at 4:00 this time estimated 103.9, previously which was 102.9. UK BoE Interest Rate Decision (Jun) today at 7:00 this time estimated 0.10%, previously which was 0.10%. US Core Durable Goods Orders (MoM) (May) today at 8:30 this time estimated 0.8%, previously which was 1.0%. US GDP (QoQ) (Q1) today at 8:30 this time estimated 6.4%, previously which was 4.3%.

TECHNICAL SUMMARY

GBPUSD

GBPUSD Technical Analysis
GBPUSD Technical Analysis

TRADE SUGGESTION- SELL AT 1.39563, TAKE PROFIT AT 1.39204 AND STOP LOSS AT 1.4000

EURUSD

EURUSD Technical Analysis
EURUSD Technical Analysis

TRADE SUGGESTION- SELL AT 1.19338, TAKE PROFIT AT 1.19041 AND STOP LOSS AT 1.19614

USDJPY

USDJPY Technical Analysis
USDJPY Technical Analysis

TRADE SUGGESTION- BUY AT 110.857, TAKE PROFIT AT 110.997 AND STOP LOSS AT 110.758

USDCHF

USDCHF Technical Analysis
USDCHF Technical Analysis

TRADE SUGGESTION- BUY AT 0.91830, TAKE PROFIT AT 0.92116 AND STOP LOSS AT 0.91646

DAX 30

DAX 30 Technical Analysis
DAX 30 Technical Analysis

TRADE SUGGESTION- SELL AT 15535.0 TAKE PROFIT AT 15402.6 AND STOP LOSS AT 15606.4

WTI CRUDE OIL

WTI CRUDE OIL Technical Analysis
WTI CRUDE OIL Technical Analysis

TRADE SUGGESTION- BUY AT 73.37 TAKE PROFIT AT 73.53 AND STOP LOSS AT 73.28

GOLD

GOLD Technical Analysis
GOLD Technical Analysis

TRADE SUGGESTION- SELL AT 1775.99, TAKE PROFIT AT 1768.84 AND STOP AT 1783.33

BTCUSD

BTCUSD Technical Analysis
BTCUSD Technical Analysis

TRADE SUGGESTION- SELL AT 33130.35 TAKE PROFIT AT 32177.78 AND STOP AT 34194.48

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