Technical Analysis with Candlestick Charts – 08 October 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 08 October 2021

Asia Pacific stocks were mostly up on Friday morning. The Shanghai composite is up 0.90% at 3,568.16. Overall, the Singapore MSCI up 0.13% at 357.30. Over in Hong Kong, the Hang Seng Index down 0.12% at 24,587.00. In Japan, the Nikkei 225 up 1.22% at 28,160.00, while the Topix index is up 0.85% at 1966.0. South Korea’s Kospi down 0.12% to 2955.91. Australia S&P/ASX 200 up 0.75% at 7311.3.

European equities Thursday closing. The DAX futures contract in Germany traded up 1.85% at 15250.86, CAC 40 futures down 1.65% at 6600.20 and the UK 100 futures contract in the U.K. up 1.17% at 7,078.05.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.98% at 34754.95. The S&P 500 up 0.83% at 4399.75 and the Nasdaq 100 down 0.22% at 14872.3, NYSE closes at 16511.80 up 1.06%.

In the Forex market, GBPUSD down 0.06% at 1.36053. The USDJPY up 0.26% at 111.896. The USDCHF up 0.20% at 0.9295. EURUSD up 0.01% at 1.15514, EUR/GBP up 0.11% at 0.8489. The USD/CNY up 0.05% at 6.4497 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 up on Friday; Brent crude oil up 0.64% at $82.97 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.80% at $78.48.

In the Cryptocurrency Markets, BTCUSD at 53766.32 down 0.04%, Ethereum down 0.78% at 3560.05, Litecoin at 175.54 down 1.24%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Ford Motor Co. up 5.453% at $14.89, General Motors Co. up 4.654% at $56.44,

Twitter Inc. up 4.373% to $63.97, Kellogg Co. down 2.003% to $63.11, Carnival Corp. down 1.647% to $24.49, CSX Corp. down 1.106% at $32.18.

Economic news:

US: U.S. job growth likely accelerated in September as the summer wave of COVID-19 infections began to subside, fueling demand for high-contact services like dining out, and positioning the Federal Reserve to start scaling back its monthly bond buying.

The Labor Department’s closely watched employment report on Friday would also suggest that an apparent sharp slowdown in economic activity in the third quarter was probably temporary. Still, the labor market and broader economy remain constrained by worker and raw material shortages, wrought by the pandemic.

“With COVID clearly on a downward path again, I think the jobs report should be pretty good,” said James Knightley, chief international economist at ING in New York. “But there are still clearly strains in the job market, in that the labor supply story remains very constrained.”

According to a Reuters survey of economists, nonfarm payrolls likely surged by 500,000 jobs last month, which would leave the level of employment about 4.8 million jobs below its peak in February 2020.

Eurozone: British employers increased pay for new staff by the most since at least the 1990s, according to a survey that will be studied by the Bank of England as it tries to assess how persistent the recent jump in inflation might be.

The Recruitment and Employment Confederation said firms were still seeking to hire in September but staff availability fell sharply again, pushing up starting salaries for permanent and temporary workers by the most in the survey’s 24-year history.

REC Chief Executive Neil Carberry said competition for staff was widespread, from food processing and logistics – including the acute shortage of truck drivers which led to Britain’s recent fuel supply crisis – to office-based jobs.

“We have all seen how labour shortages have affected our everyday lives over the past few weeks, whether that’s an empty petrol station or fewer goods on supermarket shelves,” he said.

Carberry urged the government to do more to encourage business investment, relax post-Brexit immigration rules, avoid barriers to international trade and improve skills training. Important Data: US Average Hourly Earnings (YoY) (YoY) (Sep) today at 8:30 this time estimated 4.6%, previously which was 4.3%. US Nonfarm Payrolls (Sep) today at 8:30 this time estimated 500K, previously which was 235K. US Unemployment Rate (Sep) today at 8:30 this time estimated 5.1%, previously which was 5.2%. CANADA Employment Change (Sep) today at 8:30 this time estimated 65.0K, previously which was 90.2K.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.35990, TAKE PROFIT AT 1.35716 AND STOP LOSS AT 1.36349

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.15407, TAKE PROFIT AT 1.15357 AND STOP LOSS AT 1.15483

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 129.196, TAKE PROFIT AT 129.352 AND STOP LOSS AT 129.036

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.8484, TAKE PROFIT AT 0.8467 AND STOP LOSS AT 0.8501

FTSE 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 7083.00 TAKE PROFIT AT 7098.60 AND STOP LOSS AT 7068.20

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 79.40 TAKE PROFIT AT 79.53 AND STOP LOSS AT 79.36

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1759.12, TAKE PROFIT AT 1766.81 AND STOP AT 1750.99

BTC USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 54160.00 TAKE PROFIT AT 54658.45 AND STOP AT 53645.60

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