Technical Analysis Report Today – 31 May 2021

Technical Analysis

Technical Analysis Report Today – 31 May 2021

Asia Pacific stocks were mostly down Monday morning. The Shanghai composite is up 0.15% at 3,606.15. Overall, the Singapore MSCI down 0.43% at 358.65. Over in Hong Kong, the Hang Seng Index down 0.54% to 28,831. In Japan, the Nikkei 225 down 0.52% at 28,970, while the Topix index is down 1.00% at 1928.5. South Korea’s Kospi up 0.48% to 3203.92. Australia S&P/ASX 200 down 0.25% at 7161.6.

European equities Friday closing. The DAX futures contract in Germany traded 0.02% up at 15488.60, CAC 40 futures up 0.75% at 6484.12 and the UK 100 futures contract in the U.K. down 0.22% at 7,014.6.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.21% at 34535.91 the S&P 500 up 0.08% to 4204.12 and the Nasdaq 100 up 0.06% at 13700.3, NYSE closes at 16555.65 up 0.14%.

In the Forex market, GBPUSD flat at 1.41804. The USDJPY down 0.05% at 109.77. The USDCHF up 0.03% at 0.90011. EURUSD down 0.03% at 1.21877, EUR/GBP up 0.07% at 0.85944. The USD/CNY up 0.01% at 6.3679, at the time of writing.

In the commodity market U.S. Gold futures up 0.11% at $1,904.82. Elsewhere, Silver futures up 0.09% to $27.920 per ounce, Platinum up 0.57% at $1184.17 per ounce, and Palladium up 0.50% to $2,839.50.

Crude Oil mix on Monday; Brent crude oil up 0.38% to $69.24 barrel while U.S. West Texas Intermediate (CLc1) is down 0.66% at $66.61.

In the Cryptocurrency Markets, BTCUSD at 34987.88 down 1.93%, Ethereum at 2385.39 down 0.19%, Litecoin at 168.50 down 1.12%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Top 5 Stock
Top 5 Stock

NVIDIA Corp. up 4.884% at $649.78, EBAY Inc. up 2.613% at $60.88, HP Inc. down 8.941% to $29.23, GAP Inc. down 4.836% to $33.45, ZOOM VIDEO Comm. up 1.562% to $331.53, DOLLAR TREE Inc. down 2.607% at $97.50.

Economic news:

US: Negotiations with U.S. President Joe Biden over a potentially massive infrastructure investment package are inching forward even though disagreements remain over the size and scope of such legislation, Republican Senator Shelley Moore Capito said on Sunday.

“I think we can get to real compromise, absolutely, because we’re both still in the game,” Capito said in an interview with “Fox News Sunday.”

Capito leads a group of six Senate Republicans who have been in regular contact with Biden and White House aides over a bill the administration wants to move through Congress promptly.

The Republican senators have proposed $928 billion to improve roads, bridges and other traditional infrastructure projects. Much of the funding would come from money already enacted into law for other purposes that they argue is unused.

The Biden administration’s latest offer in negotiations is for $1.7 trillion and would include federal spending on projects that go beyond traditional infrastructure, such as home care for the elderly.

Eurozone: A planned reform of the euro zone’s bailout fund poses substantial risks for Germany’s state budget, its federal audit office says in a confidential report, broadcaster ZDF reported on Sunday.

Euro zone finance ministers agreed in November to widen the responsibilities of the fund, known as the European Stability Mechanism (ESM), to strengthen the resilience of the common currency area amid worries that the COVID-19 pandemic increased risks of future economic trouble.

The changes will allow the ESM to lend to the euro zone’s bank resolution fund to wind down failing banks if, in a banking crisis, the fund runs out of its own money.

That would result in “banking risks being communalised at the public funds level,” ZDF quoted the report as saying, which means that the audit office is concerned that the state would have to pay in cases of banking crisis.

Important Data: JAPAN Capital Spending (YoY) (Q1) today at 19:50 previously which was -4.8%. EURO ZONE Private Sector Loans (YoY) today at 4:30 previously which was 3.3%. AUSTARLIA Manufacturing PMI today at 19:00 previously which was 59.9. CANADA RMPI (MoM) (Apr) today at 8:30 previously which was 2.3%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.41782, TAKE PROFIT AT 1.42036 AND STOP LOSS AT 1.41600

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.21926, TAKE PROFIT AT 1.22065 AND STOP LOSS AT 1.21786

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 109.658, TAKE PROFIT AT 109.934 AND STOP LOSS AT 109.463

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.90062, TAKE PROFIT AT 0.90000 AND STOP LOSS AT 0.90157

NIKKEI 225

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 28993 TAKE PROFIT AT 29117 AND STOP LOSS AT 28873

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 67.13 TAKE PROFIT AT 67.29 AND STOP LOSS AT 66.97

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1904.57, TAKE PROFIT AT 1907.63 AND STOP AT 1902.21

BTCUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 35791.35 TAKE PROFIT AT 34701.91 AND STOP AT 36463.00

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