Technical Analysis with Candlestick Charts – 01 March 2022

Technical Analysis with Candlestick Charts – 01 March 2022

Technical Analysis

Asia Pacific stocks were up on Tuesday morning. The Shanghai composite is up 0.27% at 3,471.60. Overall, the Singapore MSCI up 0.95% at 334.55. Over in Hong Kong, the Hang Seng Index down 0.34% at 22,579.00. In Japan, the Nikkei 225 up 1.20% at 26,880.00, while the Topix index is up 0.56% at 1901.50. South Korea’s Kospi up 0.84% to 2699.18. Australia S&P/ASX 200 up 0.67% at 7096.50.

European equities Monday closing. The DAX futures contract in Germany traded down 0.73% at 14461.02, CAC 40 futures down 1.39% at 6658.84 and the UK 100 futures contract in the U.K. down 0.42% at 7,458.24.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.49% at 33892.61. The S&P 500 down 0.24% at 4373.95 and the Nasdaq 100 up 0.34% at 14237.81, NYSE closes down 0.69% at 16313.89.

In the Forex market, GBPUSD up 0.02% at 1.3418. The USDJPY up 0.10% at 115.072. The USDCHF up 0.17% at 0.9183. EURUSD down 0.17% at 1.1197, EUR/GBP down 0.14% at 0.8344. The USD/CNY up 0.06% at 6.3123 at the time of writing.

In the commodity market U.S. Gold futures down 0.09% at $1,906.84. Elsewhere, Silver futures down 0.13% at $24.410 per ounce, Platinum up 0.05% at $1045.00 per ounce, and Palladium up 0.06% at $2492.50.

Crude Oil up on Tuesday; Brent crude oil up 1.34% at $99.32 per barrel while U.S. West Texas Intermediate (CLc1) up 1.05% at $95.99.

In the Cryptocurrency Markets, Bitcoin at 43190.22 up 0.03%, Ethereum down 0.79% at 2902.39 Litecoin at 112.15 down 1.40%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Tesla Inc. up 7.478% at $870.43, Fortinet Inc. up 6.016% at $344.52, Mosaic Co. up 5.855% to $52.43, Citigroup Inc. down 4.437% at $59.23, JPMorgan Chase & Co. down 4.17% to $141.80, Viatris Inc. down 24.278% at $11.01.

Economic news:

US: The cost of raising U.S. dollar funds in the euro swaps market rose sharply on Monday after Western nations ramped up sanctions against Russia over the weekend, including blocking some Russian banks from the SWIFT international payments system.

Three-month euro cross-currency swaps hit 38.25 basis points, the highest since mid-March 2020, the beginning of the coronavirus pandemic, as foreign banks and companies scrambled for dollar funding.

In other words, investors were willing to pay around 38.25 basis points over interbank rates to swap three-month euros into dollars.

Last Friday, that three-month cost was 21 basis points and it was 8 basis points a month ago.

The ruble plunged nearly 30% to an all-time low versus the dollar on Monday, after Western nations on Saturday unveiled tougher sanctions including blocking some Russian banks from the SWIFT international payments system.

Eurozone: Russian manufacturing activity shrank in February as new orders fell for the first time in six months as businesses felt the impact of the COVID-19 pandemic, a survey showed on Tuesday.

The Markit Purchasing Managers’ Index (PMI) fell to 48.6 in February from 51.8 in the previous month, slipping below the 50.0 mark that separates expansion from contraction for the first time since September.

“Weak market demand conditions and the ongoing impact of the pandemic led to the first declines in output and new orders since August 2021, both of which were solid overall,” said Sian Jones, a senior economist at IHS Markit, which compiles the survey.

New export orders declined at the steepest pace in four months, while inflationary pressures intensified as supplier costs increased and logistics issues continued to hamper supplier deliveries, the monthly survey showed.

Russian manufacturers also recorded the steepest decline in employment since August 2021, according to the survey which did not mention the Russian attack on Ukraine that took place on Feb. 24 and triggered harsh economic sanctions against Moscow and the Russian central bank.

Important Data: UK Manufacturing PMI (Feb) today at 4:30 this time estimated 57.30, previously which was 57.30. Germany CPI (MoM) (Feb) today at 8:00 this time estimated 0.9%, previously which was 0.4%. CANADA GDP (MoM) (Dec) today at 8:30 this time estimated 0.1%, previously which was 0.6%. US ISM Manufacturing PMI (Feb)  today at 10:00 this time estimated 58.0, previously which was 57.60. US API Weekly Crude Oil Stock today at 16:30 previously which was 5.983M.

Technical Summary

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.3415, TAKE PROFIT AT 1.3383 AND STOP LOSS AT 1.3457

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.1197, TAKE PROFIT AT 1.1188 AND STOP LOSS AT 1.1218

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 154.438, TAKE PROFIT AT 153.952 AND STOP LOSS AT 154.835

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 125.270, TAKE PROFIT AT 125.618 AND STOP LOSS AT 125.112

S&P 500

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 4378.59 TAKE PROFIT AT 4265.93 AND STOP LOSS AT 4425.72

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 97.31 TAKE PROFIT AT 97.90 AND STOP LOSS AT 96.80

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1906.27, TAKE PROFIT AT 1921.11 AND STOP AT 1900.00

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 43378.92 TAKE PROFIT AT 45416.15 AND STOP AT 42540.33

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