Technical Analysis Report Today – 26 August 2021

Technical Analysis

Technical Analysis Report Today – 26 August 2021

Asian shares retreated on Thursday. The Shanghai Composite is down 0.01% at 3,517.20. Overall, the Singapore MSCI up 0.01% at 357.50. Over in Hong Kong, the Hang Seng Index down 0.06% at 25,286. In Japan, the Nikkei 225 flat at 27,710, while the Topix index is flat at 1934.0. South Korea’s Kospi down 0.01% to 3129.51. Australia S&P/ASX 200 down 0.02% at 7485.9.

European equities Wednesday closing. The DAX futures contract in Germany traded flat at 15860.66, CAC 40 futures flat at 6676.49 and the UK 100 futures contract in the U.K. up 0.08% at 7,148.14.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.02% at 35407.92. The S&P 500 flat at 4496.20 and the Nasdaq 100 down 0.03% at 15339.20, NYSE closes at 16814.72 down 0.04%.

In the Forex market, GBPUSD down 0.07% at 1.37452. The USDJPY up flat at 110.001. The USDCHF up 0.07% at 0.91508. EURUSD down 0.04% at 1.1760, EUR/GBP up 0.04% at 0.85568. The USD/CNY up 0.07% at 6.4835, at the time of writing.

In the commodity market U.S. Gold futures down 0.06% at $1,785.39. Elsewhere, Silver futures up 0.04% to $23.690 per ounce, Platinum down 0.14% at $988.52 per ounce, and Palladium down 0.21% at $2,390.50.

Crude Oil up on Thursday; Brent crude oil up 0.03% at $72.06 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.03% at $68.03.

In the Cryptocurrency Markets, BTCUSD at 47003.58 down 0.22%, Ethereum at flat at 3110.00, Litecoin at 170.77 up 0.07%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Western Digital Corp. up 7.801% at $65.50, American Express Co. up 3.089% at $166.18, Micron Technology Inc. up 2.862% to $74.04, Gap Inc. down 5.307% to $27.48, Biogen Inc. down 1.903% to $342.75, Pfizer Inc. down 1.798% at $47.51.

Economic news:

US: Mortgage applications increased last week, as purchasing applications posted their largest increase since early July while mortgage rates edged down.

The Mortgage Bankers Association (MBA) said on Wednesday its average contract interest rate for traditional 30-year mortgages declined to 3.03% from 3.06% in the week ending Aug. 20. The seasonally adjusted market composite index tracking mortgage applications rose 1.6% from a week earlier, reflecting a 0.9% increase in applications to refinance existing loans.

Purchase applications rose 3.0%, the MBA said.

After hitting record lows late last year below 2.9%, mortgage rates climbed in the first part of this year and peaked in the spring. Rates had been drifting lower since, held down in large part by the U.S. Federal Reserve’s extraordinary stimulus measures aimed at helping the economy rebound from the coronavirus pandemic, but ticked higher last week after data showed a hiring surge last month.

Eurozone: The mood among German consumers darkened heading into September as accelerating inflation and rising COVID-19 cases made them more hesitant to buy, a survey showed on Thursday.

The GfK institute said its consumer sentiment index, based on a survey of around 2,000 Germans, dropped to -1.2 points for September, from a revised -0.4 points a month earlier. The reading compared with a Reuters forecast for -0.7.

“Prices have been rising rapidly since the middle of this year. This has a dampening effect on the consumer mood,” GfK consumer expert Rolf Buerkl said in a statement.

Germany’s harmonised annual consumer prices rose 3.1% in July, hitting a 13-year high and fuelling a debate about whether the increase in the cost of living will persist.

An increase in coronavirus infections and a slower pace of vaccinations have also hit consumers’ expectations for the economy and affected their propensity to buy, Buerkl added.

Important Data: US GDP (QoQ) (Q2) today at 8:30 this time estimated 6.7%, previously which was 6.5%. US Initial Jobless Claims today at 8:30 this time estimated 350K, previously which was 348K. AUSTRALIA Retail Sales (MoM) (Jul) today at 21:30 this time estimated -2.3%, previously which was -1.8%. JAPAN Tokyo Core CPI (YoY) (Aug) today at 19:30 this time estimated -0.2%, previously which was -0.3%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.37380, TAKE PROFIT AT 1.37154 AND STOP LOSS AT 1.37675

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.17582, TAKE PROFIT AT 1.17889 AND STOP LOSS AT 1.17369

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 110.116, TAKE PROFIT AT 110.332 AND STOP LOSS AT 109.896

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.91636, TAKE PROFIT AT 0.91852 AND STOP LOSS AT 0.91408

S&P 500

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 4484.44 TAKE PROFIT AT 4500.14 AND STOP LOSS AT 4466.92

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 67.65 TAKE PROFIT AT 68.44 AND STOP LOSS AT 66.92

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1786.56, TAKE PROFIT AT 1775.80 AND STOP AT 1793.37

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 3114.14 TAKE PROFIT AT 3042.31 AND STOP AT 3185.70

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