Technical Analysis Report Today – 29 June 2021

Technical Analysis

Technical Analysis Report Today – 29 June 2021

Asian shares dropped on Tuesday. The Shanghai composite is down 0.80% at 3,577.53. Overall, the Singapore MSCI down 1.42% at 351.00. Over in Hong Kong, the Hang Seng Index down 1.03% to 28,924. In Japan, the Nikkei 225 down 0.62% at 28,780, while the Topix index is down 0.56% at 1947.0. South Korea’s Kospi down 0.49% to 3285.63. Australia S&P/ASX 200 down 0.12% at 7298.8.

European equities Monday closing. The DAX futures contract in Germany traded 0.34% down at 15542.17, CAC 40 futures down 0.98% at 6558.03 and the UK 100 futures contract in the U.K. up 0.04% at 7,074.00.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.44% at 34283.28. The S&P 500 up 0.23% to 4290.62 and the Nasdaq 100 down 0.16% at 14495.2, NYSE closes at 16573.72 down 0.51%.

In the Forex market, GBPUSD down 0.03% at 1.38721. The USDJPY up 0.01% at 110.606. The USDCHF up 0.09% at 0.91992. EURUSD down 0.04% at 1.19167, EUR/GBP up 0.07% at 0.85914. The USD/CNY up 0.06% at 6.4597, at the time of writing.

In the commodity market U.S. Gold futures down 0.08% at $1,776.65. Elsewhere, Silver futures down 0.01% to $26.048 per ounce, Platinum down 0.11% at $1089.74 per ounce, and Palladium down 0.43% to $2,678.50.

Crude Oil down on Tuesday; Brent crude oil down 0.13% to $74.48 barrel while U.S. West Texas Intermediate (CLc1) is down 1.74% at $72.76.

In the Cryptocurrency Markets, BTCUSD at 34880.79 up 1.14%, Ethereum at 2123.12 up 1.95%, Litecoin at 139.67 up 1.74%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

ETSY Inc. up 7.365% at $198.41, NVIDIA Corp. up 5.013% at $799.4, FACEBOOK up 4.18% to $355.64, INTEL Corp. up 2.808% to $57.48, CARNIVAL Corp. down 7.039% to $26.15, NOV Inc. down 6.003% at $14.72.

Economic news:

US: Two Federal Reserve officials on Monday expressed strong skepticism about the need for the central bank to issue a digital currency, saying that many dollar transactions are already virtual and some of the potential benefits of an official digital currency may be accomplished through other means.

The remarks, made at two separate events on Monday afternoon, suggest policymakers could face intense discussions as they explore the potential benefits, costs and logistics of creating a central bank digital currency, or CBDC.

Fed Vice Chair for Supervision Randal Quarles said any proposals to create a U.S. CBDC must clear a “high bar,” and that he needs to be convinced the potential benefits would outweigh the risks.

“Before we get carried away with the novelty, I think we need to subject the promises of a CBDC to a careful critical analysis,” Quarles said in remarks delivered in person during the annual Utah Bankers Association Convention.

The Fed official said the U.S. dollar is already “highly digitized” and expressed scepticism that a CBDC would help to improve financial inclusion or lower financial costs. Some of those issues may be better addressed with other solutions, such as improving access to low-cost bank accounts, Quarles said.

Eurozone: Banks in the euro zone are already recording a drop in credit quality and this trend is likely to accelerate once government support measures are removed, European Central Bank Vice President Luis de Guindos said on Monday.

“There are already some early signs of weakening credit quality, for example the share of loans reported as subject to heightened credit risk has risen significantly and asset quality is likely to deteriorate once support measures are phased out,” de Guindos said in a speech.

“The deterioration is most visible in sectors that were hit harder by the pandemic, such as services, while loan performance problems are less prevalent in manufacturing,” he added.

Important Data: AUSTRALIA Private Sector Credit (MoM) (May) today at 21:30 previously which was 0.2%. CHINA Manufacturing PMI (Jun) today at 21:00 this time estimated 50.8, previously which was 51.00. JAPAN Industrial Production (MoM) (May) today at 19:50 this time estimated -2.4%, previously which was 2.9%. US API Weekly Crude Oil Stock today at 16:30 previously which was -7.199M.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.38670, TAKE PROFIT AT 1.38483 AND STOP LOSS AT 1.38906

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.19157, TAKE PROFIT AT 1.18967 AND STOP LOSS AT 1.19293

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.8595, TAKE PROFIT AT 0.86116 AND STOP LOSS AT 0.85779

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 131.816, TAKE PROFIT AT 131.539 AND STOP LOSS AT 131.999

DJ EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 4093.00 TAKE PROFIT AT 4072.00 AND STOP LOSS AT 4112.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 72.93 TAKE PROFIT AT 73.30 AND STOP LOSS AT 72.40

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGES TION- SELL AT 1773.68, TAKE PROFIT AT 1769.26 AND STOP AT 1782.58

RIPPLE

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.6690 TAKE PROFIT AT 0.6504 AND STOP AT 0.6884

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