Technical Analysis with Candlestick Charts – 07 January 2022

Technical Analysis with Candlestick Charts – 07 January 2022

Technical Analysis

Asia Pacific stocks were up on Friday morning. The Shanghai composite is down 0.09% at 3,582.01. Overall, the Singapore MSCI up 1.01% at 339.05. Over in Hong Kong, the Hang Seng Index up 2.10% at 23,475.00. In Japan, the Nikkei 225 down 0.18% at 28,450.00, while the Topix index is down 0.10% at 1991.5. South Korea’s Kospi up 1.18% to 2954.89. Australia S&P/ASX 200 down 0.10% at 4696.04.

European equities Thursday closing. The DAX futures contract in Germany traded down 1.35% at 16052.03, CAC 40 futures down 1.72% at 7249.67 and the UK 100 futures contract in the U.K. down 0.88% at 7,450.36.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.47% at 36236.48. The S&P 500 down 0.10% at 4696.04 and the Nasdaq 100 down 0.04% at 15765.36, NYSE closes up 0.26% at 17156.51.

In the Forex market, GBPUSD up 0.09% at 1.35412. The USDJPY up 0.09% at 115.920. The USDCHF up 0.03% at 0.92130. EURUSD up 0.04% at 1.1299, EUR/GBP flat at 0.8344. The USD/CNY down 0.08% at 6.3774 at the time of writing.

In the commodity market U.S. Gold futures down 0.02% at $1,790.20. Elsewhere, Silver futures down 0.52% at $22.078 per ounce, Platinum down 0.52% at $962.00 per ounce, and Palladium down 0.51% at $1865.00.

Crude Oil up on Friday; Brent crude oil up 1.04% at $82.84 per barrel while U.S. West Texas Intermediate (CLc1) is up 1.38% at $79.44.

In the Cryptocurrency Markets, Bitcoin at 41465.52 down 3.84%, Ethereum down 7.39% at 3157.00, Litecoin at 128.65 down 5.31%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Signature Bank up 6.293% at $362.46, Hess Corp. up 5.468% at $85.25, ETSY Inc. up 4.566% to $196.95, Accenture PLC. down 4.829% to $378.00, Nucor Corp. down 4.987% to $116.60, Anthem Inc. down 4.096% at $439.45.

Economic news:

US: U.S. employment growth likely picked up in December, culminating in record job creation in 2021, but the labor market could temporarily lose its luster as raging COVID-19 infections cause disruptions at businesses and schools.

The Labor Department’s closely watched employment report on Friday is also expected to show the jobs market rapidly tightening, with the unemployment rate seen falling to a 22-month low of 4.1% from 4.2% in November. It will sketch a picture of an economy that closed 2021 on a high note, even if the public health picture is not as improved as officials had hoped.

“Unfortunately the economy’s path is still tethered to the pandemic and Omicron is going to deliver a significant blow to the economy in the first quarter,” said Ryan Sweet, a senior economist at Moody’s (NYSE:MCO) Analytics in West Chester, Pennsylvania.

Nonfarm payrolls likely increased by 400,000 jobs last month after rising 210,000 in November, according to a Reuters survey of economists. Should payrolls meet expectations, a whopping 6.5 million jobs would have been created in 2021.

Eurozone: Britain’s services sector suffered its biggest loss of momentum last month since the country was last in lockdown, as the spread of the Omicron variant of coronavirus hammered hospitality and travel, a survey showed on Thursday.

The IHS Markit/CIPS services Purchasing Managers’ Index (PMI) fell to a 10-month low of 53.6 in December from 58.5 in November, according to final data, which was a fraction stronger than a preliminary “flash” reading of 53.2.

The composite PMI, which includes Tuesday’s more upbeat manufacturing PMI, showed a similar move.

“Mass cancellations of bookings in response to the Omicron variant led to a slump in consumer spending on travel, leisure and entertainment,” IHS Markit economist Tim Moore said.

Some 45% of hospitality businesses and 50% of firms such as beauticians and hairdressers reported increased cancellations in the run-up to Christmas, according to separate figures released by the Office for National Statistics on Thursday.

The last time the services PMI was lower was in February 2020 when the economy was still under lockdown, and restaurants and non-essential shops were closed to the public.

Important Data: UK Construction PMI (Dec) today at 4:30 this time estimated 54.0, previously which was 55.5. EURO ZONE Core CPI (YoY) (Nov) today at 5:00 this time estimated 2.5%, previously which was 2.6%. US Nonfarm Payrolls (Dec) today at 8:30 this time estimated 400K, previously which was 210K. CANADA Ivey PMI (Dec) today at 10:00 previously which was 61.20.

TECHNICAL REPORT

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.35375, TAKE PROFIT AT 1.35653 AND STOP LOSS AT 1.35186

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.13023, TAKE PROFIT AT 1.12758 AND STOP LOSS AT 1.13206

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 156.776, TAKE PROFIT AT 157.391 AND STOP LOSS AT 155.864

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 125.761, TAKE PROFIT AT 126.249 AND STOP LOSS AT 125.361.

S&P 500

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 4691.67 TAKE PROFIT AT 4665.17 AND STOP LOSS AT 4707.56

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 79.49 TAKE PROFIT AT 80.72 AND STOP LOSS AT 78.92

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1789.26, TAKE PROFIT AT 1771.51 AND STOP AT 1798.07

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 41466.95 TAKE PROFIT AT 40772.31 AND STOP AT 42557.58

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