Technical Analysis with Candlestick Charts – 07 February 2022

Technical Analysis with Candlestick Charts – 07 February 2022

Technical Analysis

Asia Pacific stocks were mostly down on Monday morning. The Shanghai composite is up 2.11% at 3,118.88. Overall, the Singapore MSCI up 1.21% at 346.40. Over in Hong Kong, the Hang Seng Index down 0.29% at 24,472.00. In Japan, the Nikkei 225 down 0.73% at 27,210.00, while the Topix index is down 0.28% at 1924.50. South Korea’s Kospi down 0.31% to 2741.61. Australia S&P/ASX 200 down 0.13% at 7110.80.

European equities Friday closing. The DAX futures contract in Germany traded down 1.75% at 15099.56, CAC 40 futures down 0.77% at 6951.39 and the UK 100 futures contract in the U.K. down 0.17% at 7,516.41.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.06% at 35089.75. The S&P 500 up 0.52% at 4500.54 and the Nasdaq 100 up 1.33% at 14694.35, NYSE closes up 0.15% at 16701.58.

In the Forex market, GBPUSD down 0.05% at 1.35201. The USDJPY up 0.18% at 115.351. The USDCHF down 0.02% at 0.92536. EURUSD down 0.16% at 1.14323, EUR/GBP up 0.02% at 0.84551. The USD/CNY down 0.03% at 6.3587 at the time of writing.

In the commodity market U.S. Gold futures up 0.16% at $1,810.34. Elsewhere, Silver futures up 1.26% at $22.755 per ounce, Platinum up 0.05% at $1023.00 per ounce, and Palladium up 0.46% at $2301.00.

Crude Oil up on Monday; Brent crude oil up 0.70% at $93.39 per barrel while U.S. West Texas Intermediate (CLc1) up 0.27% at $90.86.

In the Cryptocurrency Markets, Bitcoin at 42819.14 up 0.96%, Ethereum up 1.30% at 3097.90, Litecoin at 127.37 down 0.36%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Amazon.com Inc. up 13.536% at $3,152.79, Twitter Inc. up 7.135% at $36.94, Fortinet Inc. up 5.835% to $314.33, ETSY Inc. up 5.285% at $133.67, Ford Motor Co. down 9.703% to $17.96, Lennar Corp. down 4.777% at $90.30.

Economic news:

US: Wild swings in stocks and a sharp run-up in government bond yields are putting the spotlight on next week’s U.S. inflation data, as investors brace for more volatility across assets.

A turbulent week in markets ended with a surge in Treasury yields to their highest level in more than two years after surprisingly strong U.S. jobs data stoked expectations of a more hawkish Federal Reserve.

Robust data on inflation – which hit its highest annual level in nearly four decades in December – could further bolster the case for a more aggressive Fed and extend the climb in yields, dulling the allure of an equity market struggling to rebound from last month’s tumble.

Due out on Thursday, the U.S. consumer price index for January is expected to have risen 0.5%, culminating in an annual rise of 7.3%, which would be the largest such increase since 1982, according to a Reuters poll.

Eurozone: Britain and South Korea will on Monday sign an agreement to reinforce pandemic-damaged supply lines for key products like semiconductors, with trade minister Anne-Marie Trevelyan due to host her counterpart Yeo Han-koo in London.

The ministers will also begin work on an improved trade deal as Britain looks to use its exit from the European Union to build stronger ties with faster-growing economies throughout Asia and the Pacific.

“This is our Indo-Pacific tilt in action – strengthening ties with one of the largest economies in the world,” Trevelyan said in a statement.

Monday’s meeting is a precursor to formal trade negotiations, which are expected to begin later this year, to improve an existing agreement that effectively keeps in place the terms Britain had as a member of the EU.

Ahead of that, the delegations in London will look to improve supply chain resilience in the face of global disruption caused by the COVID-19 pandemic which is driving up production costs and fuelling inflation – currently at its highest in nearly 30 years in Britain.

Important Data: JAPAN Household Spending (MoM) (Dec) today at 18:30 this time estimated 0.70%, previously which was -1.2%. US Consumer Credit (Dec) today at 15:00 this time estimated 20.90B, previously which was 39.99B. GERMANY Industrial Production (MoM) (Dec) today at 2:00 this time estimated 0.4%, previously which was -0.2%. AUSTRALIA NAB Business Confidence (Jan) today at 19:30 previously which was -12.

TECHNICAL REPORT

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.35204, TAKE PROFIT AT 1.35023 AND STOP LOSS AT 1.35431

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.14305, TAKE PROFIT AT 1.14600 AND STOP LOSS AT 1.13973

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 155.852, TAKE PROFIT AT 156.169 AND STOP LOSS AT 155.481

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 124.587, TAKE PROFIT AT 124.304 AND STOP LOSS AT 124.946

DAX 40

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 15161.10 TAKE PROFIT AT 15045.40 AND STOP LOSS AT 15277.60.

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 91.05 TAKE PROFIT AT 91.37 AND STOP LOSS AT 90.76

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1810.07, TAKE PROFIT AT 1804.19 AND STOP AT 1814.61

BTCUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 42644.72 TAKE PROFIT AT 43350.45 AND STOP AT 42190.87

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