Technical Analysis with Candlestick Charts – 01 October 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 01 October 2021

Asian equities followed Wall Street sharply lower and bonds rallied on Friday. The Shanghai composite is up 0.90% at 3,568.16. Overall, the Singapore MSCI down 1.05% at 349.80. Over in Hong Kong, the Hang Seng Index up 0.17% at 24,565.00. In Japan, the Nikkei 225 down 2.21% at 28,810.00, while the Topix index is down 2.07% at 1988.5. South Korea’s Kospi down 1.59% to 3020.17. Australia S&P/ASX 200 down 2.04% at 7182.3.

European equities Thursday closing. The DAX futures contract in Germany traded down 0.68% at 15260.69, CAC 40 futures down 0.62% at 6520.02 and the UK 100 futures contract in the U.K. down 0.31% at 7,086.43.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.59% at 34843.93. The S&P 500 down 1.19% at 4307.53 and the Nasdaq 100 down 0.41% at 14648.30, NYSE closes at 16144.92 down 1.22%.

In the Forex market, GBPUSD down 0.10% at 1.3458. The USDJPY down 0.02% at 111.229. The USDCHF up 0.05% at 0.9320. EURUSD up 0.03% at 1.1579, EUR/GBP up 0.17% at 0.86031. The USD/CNY down 0.02% at 6.4452 at the time of writing.

In the commodity market U.S. Gold futures down 0.23% at $1,752.51. Elsewhere, Silver futures down 0.53% to $22.067 per ounce, Platinum flat at $962.15 per ounce, and Palladium down 0.44% at $1904.00.

Crude Oil up on Friday; Brent crude oil up 0.08% at $78.38 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.28% at $75.72.

In the Cryptocurrency Markets, BTCUSD at 43945.79 up 0.25%, Ethereum up 0.69% at 3021.44, Litecoin at 155.08 up 1.36%, at the time of writing. 

TOP STOCKS TO WATCH OUT TODAY:

Netflix Inc. up 1.883% at $610.34, Moderna Inc. up 1.573% at $384.86, ETSY Inc. up 1.296% to $207.96, Carmax Inc. down 12.626% to $127.96, Gap Inc. down 8.023% to $22.70, CSX Corp. down 2.042% at $29.74.

Economic news:

US: Treasury Secretary Janet Yellen on Thursday agreed that any default on U.S. debt would cause irreparable harm as well as an ensuing financial crisis and recession.

Yellen, asked by a member of the House Financial Services Committee if the damage done by failure to meet the federal government’s debt obligations would be “irreparable,” answered: “Yes.”

Her remarks were the latest in a series of dire warnings Yellen has issued as Congress remains deadlocked over the matter of lifting or suspending the debt limit amid wrangling over the legislative agenda of the Democratic majority and Biden administration.

Yellen has said the government will run out of cash around Oct. 18 unless Congress raises the limit on the federal debt, currently capped at $28.4 trillion. After that date, the Treasury would be “simply in an impossible situation,” Yellen said during an appearance before the committee on Thursday. “We won’t be able to pay all of the government’s bills.”

Eurozone: Australia’s Minister for Trade Dan Tehan said on Friday talks with the European Union over a trade deal have been postponed, as a row over Canberra’s decision to cancel a $40 billion deal with France escalates.

Australia last month cancelled a deal with France’s Naval Group to build a fleet of conventional submarines and will instead build at least eight nuclear-powered submarines with U.S. and British technology after striking a trilateral security partnership with those two countries.

The cancellation has angered France, which accused both Australia and the United States of stabbing it in the back. Paris recalled its ambassadors from both Canberra and Washington.

In solidarity with France, European Commission president Ursula von der Leyen has questioned whether the bloc could strike a trade deal with Australia.

Tehan on Friday declined to comment on the role the submarine deal had played in delaying negotiations but confirmed the 12th round of talks scheduled for Oct 12 had been postponed by a month.

Important Data: UK Manufacturing PMI (Sep) today at 4:30 this time estimated 56.3, previously which was 56.3. Germany Manufacturing PMI (Sep) today at 3:55 this time estimated 58.5, previously which was 58.5. CANADA GDP (MoM) (Jul) at 8:30 this time estimated -0.2%, previously which was 0.7%. US ISM Manufacturing PMI (Sep) today at 10:00 this time estimated 59.6, previously which was 59.90.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.34369, TAKE PROFIT AT 1.34102 AND STOP LOSS AT 1.34683

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.15816, TAKE PROFIT AT 1.15709 AND STOP LOSS AT 1.15940

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 111.226, TAKE PROFIT AT 111.435 AND STOP LOSS AT 111.125

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.93132, TAKE PROFIT AT 0.93314 AND STOP LOSS AT 0.92987

S&P 500

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 4277.74 TAKE PROFIT AT 4257.27 AND STOP LOSS AT 4305.63

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 74.47 TAKE PROFIT AT 75.41 AND STOP LOSS AT 73.78

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1752.17, TAKE PROFIT AT 1744.43 AND STOP AT 1760.06

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 163.09 TAKE PROFIT AT 154.68 AND STOP AT 165.89

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