Technical Analysis with Candlestick Charts – 07 October 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 07 October 2021

Asia Pacific stocks were mostly up on Thursday morning. The Shanghai composite is up 0.90% at 3,568.16. Overall, the Singapore MSCI up 1.06% at 357.55. Over in Hong Kong, the Hang Seng Index up 2.25% at 24,489.00. In Japan, the Nikkei 225 up 1.17% at 27,730.00, while the Topix index is up 0.15% at 1941.5. South Korea’s Kospi up 1.62% to 2955.37. Australia S&P/ASX 200 up 0.11% at 7256.7.

European equities Wednesday closing. The DAX futures contract in Germany traded down 1.46% at 14973.33, CAC 40 futures down 1.26% at 6493.13 and the UK 100 futures contract in the U.K. down 1.15% at 6,995.86.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.30% at 34417.00. The S&P 500 up 0.41% at 4363.56 and the Nasdaq 100 up 0.61% at 14870.8, NYSE closes at 16338.45 up 0.07%.

In the Forex market, GBPUSD down 0.01% at 1.35787. The USDJPY up 0.09% at 111.495. The USDCHF up 0.08% at 0.9280. EURUSD down 0.01% at 1.15519, EUR/GBP up 0.01% at 0.8505. The USD/CNY flat at 6.4466 at the time of writing.

In the commodity market U.S. Gold futures down 0.27% at $1,757.83. Elsewhere, Silver futures down 0.21% to $22.57 per ounce, Platinum down 0.92% at $979.55 per ounce, and Palladium up 0.82% at $1912.50.

Crude Oil mix on Thursday; Brent crude oil up 0.32% at $81.08 per barrel while U.S. West Texas Intermediate (CLc1) is down 1.21% at $77.86.

In the Cryptocurrency Markets, BTCUSD at 54848.8 down 0.90%, Ethereum down 0.79% at 3548.42, Litecoin at 180.53 up 1.23%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

CSX Corp. up 3.532% at $32.54, ETSY Inc. up 2.892% at $209.53, PepsiCo Inc. up 2.561% to $154.96, Carmax Inc. up 2.408% to $129.27, Moderna Inc. down 8.94% to $302.42, PVH Corp. down 3.736% at $104.36.

Economic news:

US: U.S. private payrolls increased more than expected in September as COVID-19 infections started subsiding, boosting hiring at restaurants and other high-contact businesses.

The ADP National Employment Report released on Wednesday supported expectations that job growth picked up last month, though it has a poor record predicting the private payrolls count in the Labour Department’s more comprehensive and closely watched employment report.

September’s employment report due on Friday will garner more attention after the Federal Reserve signalled last month that it would likely begin reducing its monthly bond purchases as soon as November. Fed Chair Jerome Powell believes the economy is one “decent” monthly employment report short of meeting the U.S. central bank’s threshold for tapering its bond buying program.

Eurozone: Euro zone retail sales were weaker than expected in August, data showed on Wednesday, as consumers reined in spending on food, drinks and tobacco.

Retail sales, a proxy for consumer demand, in the 19 countries sharing the euro rose 0.3% month-on-month in August and were unchanged from a year earlier, the European Union’s statistics office Eurostat said.

Economists polled by Reuters had expected a 0.8% monthly gain and a 0.4% year-on-year increase.

Eurostat said food, drinks and tobacco sales fell 1.7% month-on-month and by 1.9% year-on-year, holding back the overall index even though sales via mail order and internet shot up. Important Data: US Initial Jobless Claims today at 8:30 this time estimated 348K, previously which was 362K. CANADA Ivey PMI (Sep) today at 10:00 previously which was 66.0. JAPAN Household Spending (YoY) (Aug) today at 19:30 this time estimated -1.5%, previously which was 0.7%. CHINA Caixin Services PMI (Sep) today at 21:45 previously which was 46.7.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.35900, TAKE PROFIT AT 1.35674 AND STOP LOSS AT 1.36278

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.15620, TAKE PROFIT AT 1.15449 AND STOP LOSS AT 1.15760

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 111.368, TAKE PROFIT AT 111.622 AND STOP LOSS AT 111.167

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.9265, TAKE PROFIT AT 0.9242 AND STOP LOSS AT 0.9282

S&P 500

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 4375.74 TAKE PROFIT AT 4359.11 AND STOP LOSS AT 4392.55

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 76.56 TAKE PROFIT AT 77.44 AND STOP LOSS AT 76.10

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1762.89, TAKE PROFIT AT 1756.07 AND STOP AT 1775.00

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 178.59 TAKE PROFIT AT 183.10 AND STOP AT 173.61

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