Technical Analysis Report Today – 24 May 2021

Technical Analysis

Technical Analysis Report Today – 24 May 2021

Asian shares were mixed on Monday. The Shanghai composite is up 0.14% at 3,491.59. Overall, the Singapore MSCI up 0.41% at 354.60. Over in Hong Kong, the Hang Seng Index down 0.31% to 28,246. In Japan, the Nikkei 225 up 0.41% at 28,390, while the Topix index is up 0.39% at 1914.5. South Korea’s Kospi down 0.45% to 3142.04. Australia S&P/ASX 200 up 0.23% at 7046.5.

European equities Friday closing. The DAX futures contract in Germany traded 0.44% up at 15437.51, CAC 40 futures up 0.68% at 6386.42 and the UK 100 futures contract in the U.K. down 0.02% at 7,018.2.

In U.S. on Wall Street, the Dow Jones Industrial Average closed flat at 34207.85 the S&P 500 down 0.08% to 4155.87 and the Nasdaq 100 up 0.05% at 13427.8, NYSE closes at 16374.99 up 0.15%.

In the Forex market, GBPUSD up 0.08% at 1.41520. The USDJPY down 0.14% at 108.753. The USDCHF down 0.03% at 0.89745. EURUSD up 0.06% at 1.21884, EUR/GBP up 0.13% at 0.86122. The USD/CNY down 0.01% at 6.4337, at the time of writing.

In the commodity market U.S. Gold futures up 0.18% at $1,883.66. Elsewhere, Silver futures up 0.40% to $27.65 per ounce, Platinum up 0.10% at $1167.63 per ounce, and Palladium up 0.52% to $2,790.5.

Crude Oil up on Monday; Brent crude oil up 0.44% to $66.94 barrel while U.S. West Texas Intermediate (CLc1) is up 0.34% at $64.65.

In the Cryptocurrency Markets, BTCUSD at 35444.53 up 2.27%, Ethereum at 2143.56 up 2.16%, Litecoin at 152.05 up 6.06%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Top 5 Stock

Ford Motor Co. up 6.725% at $13.33, Boeing Co. up 3.15% at $234.82, NVIDIA Corp. up 2.595% to $599.67, Morgan Stanley up 2.163% to $88.34, ETSY Inc. down 2.785% to $167.56, Discovery Inc. down 2.283% at $29.01.

Economic news:

US: Federal Reserve officials and new Dallas Fed data have begun lowering expectations for May jobs growth in the United States as business hiring plans continue to outrun the supply of people able or willing to work.

Dallas Federal Reserve president Robert Kaplan said Friday that hiring difficulties have continued through May, and will likely lead to another weak jobs report following the lower-than-expected 266,000 positions added in April.

A survey published by the Dallas Fed earlier in the day, meant to provide a mid-month check on national employment trends, pointed to weakening job growth as well.

Eurozone: British employers called on Prime Minister Boris Johnson on Monday to overhaul regulation and tax rules to help them meet the challenges of Brexit, the post-pandemic recovery and preparing for a net-zero carbon economy.

The Confederation of British Industry (CBI) said 2021 should be a turning point for economic policy to break the pattern of weak productivity that has weighed on growth for more than a decade.

“This country will never have a greater opportunity to transform our economy and society,” CBI Director-General Tony Danker said. “This is the moment where we have a genuine chance to make big bets on how the UK economy will grow and compete.”

The CBI urged regulators to prioritise investment, the creation of economic clusters around the country to foster innovation and better skills training.

Important Data: Russia Retail Sales (YoY) (Apr) today at 12:00 this time estimated 24.5%, previously which was -3.4%. Russia Unemployment Rate (Apr) today at 12:00 this time estimated 5.4%, previously which was 5.4%. Russia Real Wage Growth (YoY) (Mar) today at 12:00 previously which was 2.0%. Singapore GDP (QoQ) (Q1)) today at 20:00 previously which was at 2.0%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.41514, TAKE PROFIT AT 1.42063 AND STOP LOSS AT 1.41364

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.21873, TAKE PROFIT AT 1.22188 AND STOP LOSS AT 1.21561

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 108.760, TAKE PROFIT AT 108.552 AND STOP LOSS AT 109.013

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.89705, TAKE PROFIT AT 0.89564 AND STOP LOSS AT 0.89860

FTSE 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 7023.00 TAKE PROFIT AT 7070.9 AND STOP LOSS AT 6967.5

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 64.25 TAKE PROFIT AT 64.77 AND STOP LOSS AT 63.59

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1882.29, TAKE PROFIT AT 1888.88 AND STOP AT 1874.28

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 36364.19 TAKE PROFIT AT 35061.48 AND STOP AT 37169.22

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