Technical Analysis with Candlestick Charts – 08 February 2022

Technical Analysis with Candlestick Charts – 08 February 2022

Technical Analysis

Asia Pacific stocks were mixed on Tuesday morning. The Shanghai composite is down 0.65% at 3,093.99. Overall, the Singapore MSCI up 1.14% at 351.00. Over in Hong Kong, the Hang Seng Index down 1.03% at 24,203.00. In Japan, the Nikkei 225 up 0.22% at 27,280.00, while the Topix index is up 0.52% at 1932.50. South Korea’s Kospi down 0.20% to 2739.70. Australia S&P/ASX 200 up 1.07% at 7186.70.

European equities Monday closing. The DAX futures contract in Germany traded up 0.71% at 15206.64, CAC 40 futures up 0.83% at 7009.26 and the UK 100 futures contract in the U.K. up 0.76% at 7,573.48.

In U.S. on Wall Street, the Dow Jones Industrial Average closed flat at 35091.14. The S&P 500 down 0.37% at 4483.88 and the Nasdaq 100 down 0.84% at 14571.25, NYSE closes up 0.13% at 16722.75.

In the Forex market, GBPUSD down 0.13% at 1.35177. The USDJPY up 0.36% at 115.480. The USDCHF up 0.18% at 0.92539. EURUSD down 0.23% at 1.14161, EUR/GBP down 0.08% at 0.84446. The USD/CNY up 0.04% at 6.3608 at the time of writing.

In the commodity market U.S. Gold futures down 0.02% at $1,819.69. Elsewhere, Silver futures down 0.49% at $22.860 per ounce, Platinum down 0.54% at $1014.00 per ounce, and Palladium down 0.33% at $2258.50.

Crude Oil down on Tuesday; Brent crude oil down 0.14% at $92.78 per barrel while U.S. West Texas Intermediate (CLc1) down 0.17% at $90.34.

In the Cryptocurrency Markets, Bitcoin at 44920.71 up 2.40%, Ethereum up 1.66% at 3194.44, Litecoin at 141.41 up 2.91%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Carnival Corp. up 7.816% at $21.52, United Airlines Holdings Inc. up 3.783% at $44.44, DXC Technology Co. up 3.608% to $37.33, Meta Platforms Inc. down 5.137% at $224.91, PayPal Holdings Inc. down 3.704% to $121.41, Moody’s Corp. down 2.99% at $336.51.

Economic news:

US: The U.S. House of Representatives on Tuesday is expected to debate legislation funding federal government programs through March 11, and avoid a politically embarrassing partial government shutdown when existing funds expire on Feb. 18.

The move would give Democratic and Republican negotiators more time to work out funding for the remainder of the fiscal year that ends on Sept. 30, House Appropriations Committee Chairwoman Rosa DeLauro said in a statement on Monday.

If approved by Congress, this would be the third such temporary funding measure since the fiscal year that began last Oct. 1.

House passage would send the bill to the Senate, which would attempt to approve it and send along to Democratic President Joe Biden for signing into law before the midnight Feb. 18 deadline. The effort will take bipartisan cooperation in the Senate, where at least 60 votes are needed to advance most legislation and Democrats control only 50 seats in the 100-member chamber.

Democrats and Republicans have been at odds for months over spending priorities in a massive appropriations bill with a price tag that is expected to be around $1.5 trillion.

Eurozone: -British house prices in January rose at their slowest monthly pace since June last year as a post-lockdown boom in the housing market started to fade and a growing cost-of-living squeeze is likely to add a further brake, mortgage lender Halifax said. House prices in January rose by 0.3% from December, Halifax said on Monday.

Russell Galley, managing director at Halifax, said “it remains likely that the rate of house price growth will slow considerably over the next year” even as the limited supply of houses for sale will provide some support to prices.

Affordability was still at historically low levels as house price rises outstripped earnings growth, and younger buyers faced challenging deposit requirements, he said.

“This situation is expected to become more acute in the short-term as household budgets face even greater pressure from an increase in the cost of living, and rises in interest rates begin to feed through to mortgage rates,” Galley said.

Important Data: US Exports today at 8:30 previously which was 224.20B. US Imports today at 8:30 previously which was 304.40B. CANADA Trade Balance (Dec) today at 8:30 this time estimated 2.50B, previously which was 3.13B. AUSTRALIA Westpac Consumer Sentiment (Feb) today at 18:30 previously which was -2.0%. JAPAN BoJ Board Member Nakamura Speech today at 20:30.

TECHNICAL REPORT

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.35229, TAKE PROFIT AT 1.35008 AND STOP LOSS AT 1.35475

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.14176, TAKE PROFIT AT 1.14324 AND STOP LOSS AT 1.14027

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 115.476, TAKE PROFIT AT 115.652 AND STOP LOSS AT 115.328

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.92483, TAKE PROFIT AT 0.92751 AND STOP LOSS AT 0.92281

EURO STOXX 50

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 4117.00 TAKE PROFIT AT 4081.00 AND STOP LOSS AT 4137.00.

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 90.14 TAKE PROFIT AT 91.73 AND STOP LOSS AT 89.56

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1817.95, TAKE PROFIT AT 1823.81 AND STOP AT 1814.72

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3166.07 TAKE PROFIT AT 3257.54 AND STOP AT 3065.69

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