Technical Analysis Report Today – 29 July 2021

Technical Analysis

Technical Analysis Report Today – 29 July 2021

Asia Pacific stocks were up on Thursday morning. The Shanghai composite is up 1.41% at 3,409.13. Overall, the Singapore MSCI up 0.89% at 362.70. Over in Hong Kong, the Hang Seng Index up 2.85% at 26,102. In Japan, the Nikkei 225 up 0.80% at 27,750, while the Topix index is up 0.42% at 1923.5. South Korea’s Kospi up 0.13% to 3240.69. Australia S&P/ASX 200 up 0.46% at 7413.6.

European equities Wednesday closing. The DAX futures contract in Germany traded up 0.33% at 15570.36, CAC 40 futures up 1.18% at 6609.31 and the UK 100 futures contract in the U.K. up 0.29% at 7,016.64.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.36% at 34930.94. The S&P 500 down 0.02% to 4400.63 and the Nasdaq 100 up 0.05% at 15004.9, NYSE closes at 16573.56 up 0.32%.

In the Forex market, GBPUSD up 0.29% at 1.39355. The USDJPY down 0.14% at 109.761. The USDCHF down 0.15% at 0.90861. EURUSD up 0.16% at 1.1861, EUR/GBP down 0.04% at 0.85104. The USD/CNY down 0.32% at 6.4702, at the time of writing.

In the commodity market U.S. Gold futures up 0.56% at $1,816.42. Elsewhere, Silver futures up 1.15% to $25.25 per ounce, Platinum up 1.08% at $1076.49 per ounce, and Palladium up 0.73% to $2,645.68.

Crude Oil up on Thursday; Brent crude oil up 0.40% at $75.04 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.94% at $72.23.

In the Cryptocurrency Markets, BTCUSD at 40142.30 up 0.32%, Ethereum at 2304.34 up 0.21%, Litecoin at 140.03 up 0.19%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Moderna Inc. up 6.338% at $349.32, Boeing Co. up 4.184% at $231.57, Starbucks Corp. down 2.872% to $122.41, Domino’s Pizza Inc. down 2.498% to $524.57,

CSX Corp. down 1.452% to $31.91, Apple Inc. down 1.22% at $144.98.

Economic news:

US: The U.S. economy likely gained steam in the second quarter, with the pace of growth probably the second fastest in 38 years, as massive government aid and vaccinations against COVID-19 fueled spending on travel-related services.

The anticipated acceleration in gross domestic product last quarter would lift the level of GDP above its peak in the fourth quarter of 2019. Even with the second quarter likely marking the peak in growth this cycle, the economic expansion was expected to remain solid for the remainder of this year.

A resurgence in COVID-19 infections, driven by the Delta variant of the coronavirus, however, poses a risk to the outlook. Higher inflation, if sustained, as well as ongoing supply chain disruptions could also slow the economy. The Commerce Department will publish its snapshot of second-quarter GDP growth on Thursday at 8:30 a.m EDT (1230 GMT).

Eurozone: British car production rose by nearly a third in the first half of 2021 from last year’s slump, but remained down on the five-year average as the sector warned that COVID-19 continued to cause staffing and supply problems.

While factories were forced to close as the pandemic hit Britain in March last year, they have operated in 2021 with protective measures in place, although a lack of semiconductor chips has hit volumes.

Some companies have also been affected by staff having to self-isolate for catching COVID-19 or being in contact with someone who had, as cases rose in recent weeks.

Output increased by an annual 31% in the first six months of the year to 498,923 vehicles, helped by a 22% increase in June, industry body the Society of Motor Manufacturers and Traders (SMMT) said, while noting the impact of chip supply problems.

Important Data: Germany Unemployment Change (Jul) today at 3:55 this time estimated -28K, previously which was -38K. US GDP (QoQ) (Q2) today at 8:30 this time estimated 8.5%, previously which was 6.4%. US Initial Jobless Claims today at 8:30 this time estimated 380K, previously which was 419K. JAPAN Retail Sales (YoY) (Jun) today at 19:50 this time estimated 0.2%, previously which was 8.3%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.39339, TAKE PROFIT AT 1.39724 AND STOP LOSS AT 1.39121

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.18505, TAKE PROFIT AT 1.18770 AND STOP LOSS AT 1.18333

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.85075, TAKE PROFIT AT 0.84971 AND STOP LOSS AT 0.85214

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 130.115, TAKE PROFIT AT 130.542 AND STOP LOSS AT 129.642

DJ EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 4105.00 TAKE PROFIT AT 4148.00 AND STOP LOSS AT 4070.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 72.80 TAKE PROFIT AT 73.72 AND STOP LOSS AT 71.88

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1818.37, TAKE PROFIT AT 1824.13 AND STOP AT 1812.66

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 2297.86 TAKE PROFIT AT 2392.5 AND STOP AT 2150.32

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