Technical Analysis Report Today – 27 May 2021

Technical Analysis

Technical Analysis Report Today – 27 May 2021

Asia Pacific stocks were mostly up on Thursday morning. The Shanghai composite is up 0.15% at 3,598.91. Overall, the Singapore MSCI up 1.14% at 358.75. Over in Hong Kong, the Hang Seng Index down 0.25% to 29,085. In Japan, the Nikkei 225 down 0.31% at 28,500, while the Topix index is down 0.42% at 1908.5. South Korea’s Kospi up 0.15% to 3172.77. Australia S&P/ASX 200 up 0.11% at 7100.3.

European equities Wednesday closing. The DAX futures contract in Germany traded 0.09% down at 15450.72, CAC 40 futures up 0.02% at 6391.61 and the UK 100 futures contract in the U.K. up 0.04% at 7,032.2.

In U.S. on Wall Street, the Dow Jones Industrial Average closed flat at 34323.06 the S&P 500 up 0.19% to 4195.98 and the Nasdaq 100 down 0.16% at 13687.9, NYSE closes at 16451.96 up 0.38%.

In the Forex market, GBPUSD up 0.04% at 1.41209. The USDJPY down 0.05% at 109.086. The USDCHF down 0.12% at 0.89682. EURUSD flat at 1.21918, EUR/GBP up 0.07% at 0.86371. The USD/CNY down 0.10% at 6.3839, at the time of writing.

In the commodity market U.S. Gold futures up 0.30% at $1,901.45. Elsewhere, Silver futures up 0.26% to $27.748 per ounce, Platinum up 0.27% at $1194.17 per ounce, and Palladium up 0.55% to $2,761.00.

Crude Oil mix on Thursday; Brent crude oil down 0.29% to $68.54 barrel while U.S. West Texas Intermediate (CLc1) is up 0.17% at $66.46.

In the Cryptocurrency Markets, BTCUSD at 38174.22 down 2.86%, Ethereum at 2729.49 down 5.54%, Litecoin at 188.23 down 5.51%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Top 5 Stock
Top 5 Stock

FORD MOTOR Co. up 8.509% at $13.90, GAP Inc. up 4.164% at $34.02, DISCOVERY Inc. up 3.783% to $31.82, BIOGEN Inc. down 2.052% to $267.84, AMGEN Inc. down 1.426% to $238.55, TESLA Inc. up 2.388% at $619.13.

Economic news:

US: A top Federal Reserve official signalled on Wednesday he was ready to open talks on reducing some of the U.S. central bank’s emergency support for the economy, even if only to clarify the Fed’s plans as the economy roars ahead and prices rise.

“I don’t want to overstate my concern,” the Fed’s vice chair for supervision, Randal Quarles, said at a Brookings Institution event. He noted he did not expect a round of 1970s-style breakout inflation, and that he was “fully committed” to a new Fed strategy that aims to keep monetary policy running full-throttle while jobs recover.

But he also laid out the case for why the “upside” risks of higher inflation may be mounting, and how the Fed may need to begin smoothing the way for a policy shift.

Quarles is the highest-ranking Fed official to begin making that case. Two Federal Reserve bank presidents have said they felt those discussions should start soon, if not right away, though Fed Chair Jerome Powell has maintained it is still too early.

Eurozone: The French government will present lawmakers next week with a bill containing emergency stimulus measures worth 15 billion euros ($18.29 billion) in a bid to help revive the coronavirus-hit economy, Finance Minister Bruno Le Maire told Les Echos.

The measures, which come on top of emergency aid close to 100 billion euros last year, will include tax rebates for hotels, restaurants and bars, as well as various support mechanisms, such as compensation for lost working hours, Le Maire said.

The European Commission forecasts economic growth of 5.7% in France this year while the government targets growth of 5%.

Important Data: US Core Durable Goods Orders (MoM) (Apr) today at 8:30 this time estimated 0.8%, previously which was 2.3%. US GDP (QoQ) (Q1) today at 8:30 this time estimated 6.5%, previously which was 6.4%. JAPAN Tokyo Core CPI (YoY) (May) today at 19:30 previously which was -0.2%. EURO ZONE ECB’s Schnabel Speaks today at 9:00.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.41111, TAKE PROFIT AT 1.41317 AND STOP LOSS AT 1.40995

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.21885, TAKE PROFIT AT 1.22065 AND STOP LOSS AT 1.21786

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 109.111, TAKE PROFIT AT 109.265 AND STOP LOSS AT 109.034

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.89737, TAKE PROFIT AT 0.89605 AND STOP LOSS AT 0.89831

NASDAQ 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 13672.24 TAKE PROFIT AT 13708.34 AND STOP LOSS AT 13645.20

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 65.81 TAKE PROFIT AT 66.51 AND STOP LOSS AT 65.36

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1898.72, TAKE PROFIT AT 1901.45 AND STOP AT 1896.94

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 188.945 TAKE PROFIT AT 184.33 AND STOP AT 191.92

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