Technical Analysis with Candlestick Charts – 05 January 2022

Technical Analysis

Technical Analysis with Candlestick Charts – 05 January 2022

Asia Pacific stocks were down on Wednesday morning. The Shanghai composite is down 0.81% at 3,602.73. Overall, the Singapore MSCI down 2.79% at 336.40. Over in Hong Kong, the Hang Seng Index down 0.83% at 23,102.00. In Japan, the Nikkei 225 up 0.21% at 29,290.00, while the Topix index is up 0.52% at 2035.5. South Korea’s Kospi down 1.42% to 2946.79. Australia S&P/ASX 200 down 0.25% at 7570.5.

European equities Tuesday closing. The DAX futures contract in Germany traded up 0.82% at 16152.61, CAC 40 futures up 1.39% at 7317.42 and the UK 100 futures contract in the U.K. up 1.63% at 7,505.16.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.59% at 36799.66. The S&P 500 down 0.06% at 4793.53 and the Nasdaq 100 down 1.35% at 16279.73, NYSE closes up 0.64% at 17336.76.

In the Forex market, GBPUSD up 0.01% at 1.3526. The USDJPY down 0.09% at 116.024. The USDCHF up 0.09% at 0.91647. EURUSD up 0.04% at 1.1291, EUR/GBP up 0.09% at 0.83468. The USD/CNY down 0.01% at 6.3717 at the time of writing.

In the commodity market U.S. Gold futures up 0.04% at $1,814.75. Elsewhere, Silver futures down 0.30% at $22.950 per ounce, Platinum down 0.31% at $970.00 per ounce, and Palladium down 0.08% at $1870.50.

Crude Oil down on Wednesday; Brent crude oil down 0.47% at $79.76 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.48% at $76.547.

In the Cryptocurrency Markets, Bitcoin at 46399.77 up 1.27%, Ethereum up 0.64% at 3810.95, Litecoin at 148.53 up 1.29%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Ford Motor Co. up 11.667% at $24.31, General Motors Co. up 7.471% at $65.74, Hess Corp. up 5.691% to $81.16, ETSY Inc. down 4.259% to $200.99, Twitter Inc. down 4.243% to $40.85, Tesla Inc. down 4.183% at $1,149.59.

Economic news:

US: Record numbers of U.S. workers leaving their jobs and a slowdown in hiring at front-line businesses may show that the latest COVID-19 wave is denting labor supply, possibly pushing the Federal Reserve further toward concluding that employment is nearing its practical limits.

Hiring data tracked by business payroll managers Homebase and UKG showed employment edging down through December, coinciding with a record outbreak of coronavirus infections driven by the Omicron variant.

Data from both firms showed larger seasonal dips this year than in 2020, with employment in Homebase’s sample of smaller businesses falling around 15% in the last days of 2021 compared to a roughly 10% drop last year.

UKG saw shift work across a variety of industries fall 1.7% in December versus a 0.3% decline in the same period last year and a 0.8% drop in December 2019.

Eurozone: British consumers increased their borrowing in November by the most since July 2020, according to Bank of England data which added to signs of an early Christmas spending spree by shoppers before the Omicron coronavirus variant hit the country.

Consumer credit rose by a net 1.233 billion pounds ($1.67 billion), stronger than the median forecast in a Reuters poll of economists for a rise of 800 million pounds.

Data published last month showed British retail sales rose faster than expected in November, helped by earlier-than-usual Black Friday discounts as well as early Christmas shopping.

Tuesday’s figures from the BoE showed consumer credit rose by 0.4% in the 12 months to November having fallen in the preceding months of 2021. It was the first 12-month increase since March 2020 when the COVID-19 pandemic hit Britain.

Bethany Beckett, an economist with Capital Economics, said the figures seemed like old news giving the recent surge in COVID infections which had probably hit willingness to borrow.

Important Data: US ADP Nonfarm Employment Change (Dec) today at 8:15 this time estimated 400K, previously which was 534K. US Crude Oil Inventories today at 10:30 this time estimated -3.283M, previously which was -3.576M. JAPAN Services PMI (Dec) today at 19:30 this time estimated 51.1, previously which was 53.0. CANADA Building Permits (MoM) (Nov) today at 8:30 this time estimated 2.3%, previously which was 1.3%.

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- BUY AT 1.35228, TAKE PROFIT AT 1.35744 AND STOP LOSS AT 1.34679

EURUSD

TRADE SUGGESTION- SELL AT 1.12870, TAKE PROFIT AT 1.12632 AND STOP LOSS AT 1.13011

USDJPY

TRADE SUGGESTION- BUY AT 116.041, TAKE PROFIT AT 116.203 AND STOP LOSS AT 115.922

USDCHF

TRADE SUGGESTION- SELL AT 0.91632, TAKE PROFIT AT 0.91444 AND STOP LOSS AT 0.91749.

NASDAQ 100

TRADE SUGGESTION- SELL AT 16180.96 TAKE PROFIT AT 16063.52 AND STOP LOSS AT 16249.18

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 76.74 TAKE PROFIT AT 78.27 AND STOP LOSS AT 75.49

GOLD

TRADE SUGGESTION- BUY AT 1816.47, TAKE PROFIT AT 1820.65 AND STOP AT 1811.86

LITECOIN USD

TRADE SUGGESTION- SELL AT 147.219 TAKE PROFIT AT 142.237 AND STOP AT 152.452

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