Technical Analysis Report Today – 31 August 2021

Technical Analysis

Technical Analysis Report Today – 31 August 2021

Asia Pacific stocks were mostly up on Tuesday morning. The Shanghai composite is up 0.23% at 3,535.62. Overall, the Singapore MSCI down 0.89% at 352.55. Over in Hong Kong, the Hang Seng Index up 0.62% at 25,579. In Japan, the Nikkei 225 up 1.59% at 28,180, while the Topix index is up 0.98% at 1964.5. South Korea’s Kospi up 1.75% to 3199.27. Australia S&P/ASX 200 up 0.41% at 7534.9.

European equities Monday closing. The DAX futures contract in Germany traded up 0.22% at 15887.31, CAC 40 futures up 0.08% at 6687.31 and the UK 100 futures contract in the U.K. up 0.32% at 7,148.02.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.16% at 35399.85. The S&P 500 up 0.43% at 4528.80 and the Nasdaq 100 up 0.40% at 15640.7, NYSE closes at 16819.62 down 0.15%.

In the Forex market, GBPUSD up 0.25% at 1.37909. The USDJPY down 0.05% at 109.865. The USDCHF down 0.13% at 0.91523. EURUSD up 0.27% at 1.18278, EUR/GBP up 0.04% at 0.85737. The USD/CNY down 0.08% at 6.4614, at the time of writing.

In the commodity market U.S. Gold futures up 0.35% at $1,815.98. Elsewhere, Silver futures up 0.58% to $24.134 per ounce, Platinum up 0.43% at $1012.31 per ounce, and Palladium down 0.12% at $2,490.00.

Crude Oil mix on Tuesday; Brent crude oil down 0.25% at $73.20 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.61% at $69.48.

In the Cryptocurrency Markets, BTCUSD at 46997.47 down 0.01%, Ethereum at up 0.39% at 3238.95, Litecoin at 168.58 up 0.74%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

ETSY Inc. up 3.474% at $217.71, Apple Inc. up 3.042% at $153.12, HP Inc. up 2.835% to $29.74, Tesla Inc. up 2.667% to $730.91, NetEase Inc. down 3.385% to $89.62, Moderna Inc. down 3.017% at $370.69.

Economic news:

US: Cleveland Federal Reserve Bank President Loretta Mester said on Monday that the U.S. economy is recovering strongly but she is not yet convinced that recent inflation readings will be enough to satisfy the price stability goal the U.S. central bank revamped a year ago.

The policymaker said there were upside risks to inflation and that officials need to pay close attention to price changes, but that she expects some inflation metrics will come down after some of the supply chain disruptions caused by the pandemic are resolved.

“I’d like to see a little more data before I can arrive and conclude that…we’re at 2% and on the way above 2% for some time,” Mester said during an interview with Reuters on Monday.

Mester’s remarks highlight the growing tension among Fed policymakers as they approach a turning point in their policy without broad agreement on some of the key metrics that define their goals.

Eurozone: The European Commission told the Czech Republic on Monday it would halt the payment of some EU subsidies until the country tightens its laws to guard against conflicts of interest.

The EU executive concluded in an audit released in April that Prime Minister Andrej Babis was in a conflict of interest as final owner of a business empire, mainly under the Agrofert group of companies, that receives EU funding.

Babis has repeatedly insisted he has not broken any laws, having moved his business holdings into two trust funds.

But on Monday, the Commission said it would not reimburse any spending on EU projects claimed by companies held by trust funds for now.

“As long as all the recommendations formulated in the (audit) report are not carried out, we are advising the Czech authorities not to declare expenses that are due for companies whose beneficial owners are trust funds. It’s a warning,” the Commission said.

Important Data: US CB Consumer Confidence (Aug)  today at 10:00 this time estimated 124.0, previously which was 129.1. US API Weekly Crude Oil Stock today at 16:30 this time estimated -2.833M, previously which was -1.622M. AUSTRALIA GDP (QoQ) (Q2) today at 21:30 this time estimated 0.5%, previously which was 1.8%. JAPAN Capital Spending (YoY) (Q2) today at 19:50 previously which was -7.8%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.37888, TAKE PROFIT AT 1.38164 AND STOP LOSS AT 1.37623

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.18249, TAKE PROFIT AT 1.18776 AND STOP LOSS AT 1.17991

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 151.391, TAKE PROFIT AT 151.573 AND STOP LOSS AT 151.210

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 119.891, TAKE PROFIT AT 119.729 AND STOP LOSS AT 120.145

EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 4205.00 TAKE PROFIT AT 4236.00 AND STOP LOSS AT 4194.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 69.27 TAKE PROFIT AT 69.83 AND STOP LOSS AT 68.60

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1815.83, TAKE PROFIT AT 1823.82 AND STOP AT 1806.56

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3355.63 TAKE PROFIT AT 3444.90 AND STOP AT 3280.09

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