Technical Analysis with Candlestick Charts – 10 December 2021

Technical Analysis with Candlestick Charts – 10 December 2021

Technical Analysis

Asia Pacific stocks were down on Friday morning. The Shanghai composite is up 0.98% at 3,673.04. Overall, the Singapore MSCI down 0.97% at 345.35. Over in Hong Kong, the Hang Seng Index down 0.28% at 24,085.00. In Japan, the Nikkei 225 down 1.32% at 28,370.00, while the Topix index is down 1.18% at 1971.0. South Korea’s Kospi down 0.59% to 3011.71. Australia S&P/ASX 200 down 0.42% at 7353.5.

European equities Thursday closing. The DAX futures contract in Germany traded down 0.30% at 15639.26, CAC 40 futures down 0.09% at 7008.24 and the UK 100 futures contract in the U.K. down 0.22% at 7,321.27.

In U.S. on Wall Street, the Dow Jones Industrial Average closed flat at 35754.70. The S&P 500 down 0.72% at 4667.44 and the Nasdaq 100 down 1.49% at 16149.57, NYSE closes down 0.71% at 16780.47.

In the Forex market, GBPUSD down 0.02% at 1.3216. The USDJPY up 0.05% at 113.51. The USDCHF up 0.11% at 0.9242. EURUSD up 0.04% at 1.12978, EUR/GBP up 0.10% at 0.85479. The USD/CNY down 0.21% at 6.3636 at the time of writing.

In the commodity market U.S. Gold futures down 0.10% at $1,772.29. Elsewhere, Silver futures down 0.31% to $21.857 per ounce, Platinum up 0.67% at $940.32 per ounce, and Palladium down 0.77% at $1799.00.

Crude Oil mix on Friday; Brent crude oil up 0.08% at $74.06 per barrel while U.S. West Texas Intermediate (CLc1) is down 1.16% at $70.58.

In the Cryptocurrency Markets, Bitcoin at 48181.29 up 1.24%, Ethereum up 0.38% at 4121.96, Litecoin at 152.74 up 0.94%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Motorola Solutions Inc. up 2.164% at $259.18, Western Union Co. up 1.864% at $18.03, Twitter Inc. up 1.619% to $46.46, Tesla Inc. down 6.096% to $1,003.8,

ETSY Inc. down 4.715% to $234.40, NVIDIA Corp. down 4.198% at $304.9.

Economic news:

US: The number of Americans filing new claims for unemployment benefits dropped to the lowest level in more than 52 years last week as labor market conditions continued to tighten amid an acute shortage of workers.

The plunge reported by the Labor Department in its weekly unemployment claims report on Thursday was, however, probably exaggerated by difficulties adjusting the data for seasonal fluctuations around this time of the year.

The claims report, the timeliest data on the economy’s health, followed on the heels of news last week that the jobless rate fell to a 21-month low of 4.2% in November. Data on Wednesday showed there were 11 million job openings at the end of October and Americans quit jobs at near-record rates.

“While the latest data should be taken with a grain of salt given seasonal adjustments, we may be entering a stretch when lower-than-average layoffs continue until the ‘Great Resignation’ fades,” said Robert Frick, corporate economist at Navy Federal Credit Union in Vienna, Virginia.

Initial claims for state unemployment benefits tumbled 43,000 to a seasonally adjusted 184,000 for the week ended Dec. 4, the lowest level since September 1969. Economists polled by Reuters had forecast 215,000 applications for the latest week.

Eurozone: The European Union needs to rethink its budget framework and alter deficit rules to encourage post-pandemic investment and foster growth as the world seeks to emerge from the COVID-19 crisis, French President Emmanuel Macron said on Thursday.

The new rules must be simpler and more transparent, he said, and the bloc’s leaders should discuss whether a major stimulus package agreed last year is enough to foster growth and what national investment could be allowed beyond budget cap rules.

As France prepares to hold the EU’s presidency from January to June, Macron said he wants leaders to work on an economic response to the pandemic with one priority: “To make Europe a great continent of production, innovation and job creation.”

France will convene a special summit of the bloc’s 27 country leaders on March 10-11 to define a new European growth model with “one obsession: to create jobs and fight unemployment”, Macron told a news conference.

Important Data: UK GDP (YoY) (Q3) today at 2:00 this time estimated 6.6%, previously which was 5.3%. UK Manufacturing Production (MoM) (Oct) at 2:00 this time estimated 0.1%, previously which was 0.1%. Germany CPI (MoM) (Nov) today at 2:00 this time estimated -0.2%, previously which was -0.2%. US Core CPI (MoM) (Nov) today at 8:30 this time estimated 0.5%, previously which was 0.6%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.32201, TAKE PROFIT AT 1.31816 AND STOP LOSS AT 1.32502

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.12935, TAKE PROFIT AT 1.13099 AND STOP LOSS AT 1.12629

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 150.155, TAKE PROFIT AT 149.685 AND STOP LOSS AT 150.673

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 122.775, TAKE PROFIT AT 122.435 AND STOP LOSS AT 123.077.

CAC 40

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 6967.3 TAKE PROFIT AT 6910.0 AND STOP LOSS AT 7045.9

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 70.48 TAKE PROFIT AT 69.59 AND STOP LOSS AT 71.10

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1772.09, TAKE PROFIT AT 1765.53 AND STOP AT 1778.20

LITECOIN USD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 151.29 TAKE PROFIT AT 142.79 AND STOP AT 162.44

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