TECHNICAL ANALYSIS REPORT TODAY – 26 JULY 2021

TECHNICAL ANALYSIS REPORT TODAY – 26 JULY 2021

Asian shares skidded to seven-month lows on Monday. The Shanghai composite is down 2.29% at 3,468.51. Overall, the Singapore MSCI down 1.02% at 357.70. Over in Hong Kong, the Hang Seng Index down 3.18% at 26,402. In Japan, the Nikkei 225 down 0.36% at 27,810, while the Topix index is down 0.57% at 1925.0. South Korea’s Kospi down 0.8% to 3228.37. Australia S&P/ASX 200 up 0.02% at 7396.1.

European equities Friday closing. The DAX futures contract in Germany traded up 1.00% at 15669.29, CAC 40 futures up 1.35% at 6568.81 and the UK 100 futures contract in the U.K. down 0.42% at 6,993.70.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.68% at 35061.56. The S&P 500 up 1.01% to 4411.80 and the Nasdaq 100 flat at 15103.8, NYSE closes at 16552.37 up 0.59%.

In the Forex market, GBPUSD flat at 1.3742. The USDJPY down 0.17% at 110.30. The USDCHF up 0.02% at 0.91885. EURUSD up 0.10% at 1.17791, EUR/GBP up 0.20% at 0.85715. The USD/CNY up 0.08% at 6.4859, at the time of writing.

In the commodity market U.S. Gold futures up 0.22% at $1,805.43. Elsewhere, Silver futures up 0.23% to $25.20 per ounce, Platinum up 0.04% at $1061.94 per ounce, and Palladium down 0.39% to $2,662.50.

Crude Oil down on Monday; Brent crude oil down 1.32% at $73.22 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.57% at $71.95.

In the Cryptocurrency Markets, BTCUSD at 39140.81 up 10.54%, Ethereum at 2383.98 up 8.66%, Litecoin at 139.43 up 9.13%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Moderna Inc. up 7.837% at $348.83, Facebook up 5.296% at $369.79, ETSY Inc. up 3.473% to $208.86, Twitter Inc. up 3.047% to $71.69, Intel Corp. down 5.29% to $53.00, Carnival Corp. down 3.303% at $21.96.

Economic news:

US: The lead U.S. Republican negotiator on an infrastructure plan said on Sunday he hoped for a detailed agreement sometime this week despite a dispute over spending on mass transit, but a Democratic source said several other issues were also unresolved.

Lawmakers are hoping to hold a procedural vote in the Senate as soon as Monday on whether to start debate on the bipartisan plan, and negotiators are trying to nail down final details. Issues that have strained the agreement include a provision intended to lift workers’ wages https://reut.rs/3rALYal.

A bipartisan framework brokered with President Joe Biden and announced over a month ago provides for $1.2 trillion in funding over five years, including about $579 billion in new spending on roads, bridges, ports and other public works projects. Lawmakers and the White House have been trying to fill in the gaps.

“We’re about 90% of the way there,” Senator Rob Portman, a Republican, told ABC’s “This Week” on Sunday. “I feel good about getting that done this week,” Portman said, adding that talks were continuing Sunday and the one issue outstanding was mass transit.

Eurozone: The British government will be exposed to financial risks from its 372-billion-pound pandemic spending for decades, according to lawmakers’ reports on Sunday that also said more than 2 billion pounds had been spent on unusable protective equipment.

In two reports on the response by Prime Minister Boris Johnson’s government to the COVID-19 pandemic, parliament’s Public Accounts Committee (PAC) said lessons needed to be learned before a promised public inquiry due to be held in 2022.

“With eye-watering sums of money spent on COVID measures so far the government needs to be clear, now, how this will be managed going forward, and over what period of time,” Meg Hillier, the PAC chair, said.

“The ongoing risk to the taxpayer will run for 20 years on things like arts and culture recovery loans, let alone the other new risks that departments across government must quickly learn to manage.”

Important Data: US New Home Sales (Jun) today at 10:00 this time estimated

800K, previously which was 769K. GERMANY Ifo Business Climate Index (Jul) today at 4:00 this time estimated 102.1, previously which was 101.8. GERMANY Current Assessment (Jul) today at 4:00 this time estimated 101.6, previously which was 99.6. CHINA Industrial profit (YoY) (Jun) today at 21:30 previously which was 36.40%.          

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.37472, TAKE PROFIT AT 1.37312 AND STOP LOSS AT 1.37693

EURUSD

TRADE SUGGESTION- SELL AT 1.17715, TAKE PROFIT AT 1.17520 AND STOP LOSS AT 1.17922

USDJPY

TRADE SUGGESTION- SELL AT 110.196, TAKE PROFIT AT 110.069 AND STOP LOSS AT 110.393

USDCHF

TRADE SUGGESTION- SELL AT 0.91772, TAKE PROFIT AT 0.91639 AND STOP LOSS AT 0.91929

S&P 500

TRADE SUGGESTION- BUY AT 4395.39 TAKE PROFIT AT 4398.35 AND STOP LOSS AT 4393.87

WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 71.18 TAKE PROFIT AT 70.56 AND STOP LOSS AT 71.92

GOLD

TRADE SUGGESTION- BUY AT 1810.68, TAKE PROFIT AT 1817.84 AND STOP AT 1804.92

BTCUSD

TRADE SUGGESTION- BUY AT 38176.21 TAKE PROFIT AT 39500.75 AND STOP AT 37522.78

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