Technical Analysis with Candlestick Charts – 10 February 2022

Technical Analysis with Candlestick Charts – 10 February 2022

Technical Analysis

Asia Pacific stocks were mixed on Thursday morning. The Shanghai Composite is down 0.13% at 3,475.24. Overall, the Singapore MSCI is up 0.34% at 357.75. Over in Hong Kong, the Hang Seng Index down 0.21% at 24,780.00. In Japan, the Nikkei 225 up 0.47% at 27,680.00, while the Topix index is up 0.54% at 1963.50. South Korea’s Kospi up 0.21% to 2774.74. Australia S&P/ASX 200 up 0.28% at 7288.50.

European equities Wednesday closing. The DAX futures contract in Germany traded up 1.57% at 15482.01, CAC 40 futures up 1.46% at 7130.89 and the UK 100 futures contract in the U.K. up 1.01% at 7,643.41.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.86% at 35768.07. The S&P 500 up 1.45% at 4587.19 and the Nasdaq 100 up 2.10% at 15056.96, NYSE closes up 1.28% at 17069.65.

In the Forex market, GBPUSD flat at 1.35342. The USDJPY up 0.13% at 115.657. The USDCHF down 0.02% at 0.92417. EURUSD up 0.02% at 1.14240, EUR/GBP up 0.03% at 0.84407. The USD/CNY down 0.07% at 6.3576 at the time of writing.

In the commodity market U.S. Gold futures up 0.12% at $1,834.62. Elsewhere, Silver futures down 0.13% at $23.271 per ounce, Platinum down 0.10% at $1030.50 per ounce, and Palladium up 0.35% at $2287.00.

Crude Oil down on Thursday; Brent crude oil down 0.51% at $91.21 per barrel while U.S. West Texas Intermediate (CLc1) down 0.57% at $88.47.

In the Cryptocurrency Markets, Bitcoin at 43960.04 down 1.05%, Ethereum down 1.80% at 3189.07, Litecoin at 138.58 down 1.08%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Omnicom Group Inc. up 14.192% at $90.12, Moderna Inc. up 6.992% at $164.03,

NVIDIA Corp. up 6.361% to $267.05, Incyte Corp. down 2.555% at $68.28, Hershey Co. down 1.623% to $203.64, Amgen Inc. down 1.585% at $237.19.

Economic news:

US: U.S. wholesale inventories rose slightly more than initially estimated in December as motor vehicle stocks increased by the most in 10 years, offering hope that supply chain constraints could be easing.

The strong inventory build reported by the Commerce Department on Wednesday, including an upward revision to November’s data, also suggested fourth-quarter economic growth could be revised higher when its Bureau of Economic Analysis (BEA) publishes its second gross domestic product estimate later this month. The report followed news on Tuesday that the trade deficit widened less-than-expected in December.

“These upward revisions to the wholesale inventory data make what already had been a strong increase in wholesale inventories estimated by the BEA for the fourth quarter look even firmer,” said Daniel Silver, an economist at JPMorgan (NYSE:JPM) in New York.

Wholesale inventories increased 2.2% in December, instead of 2.1% as estimated last month. Data for November was revised up to show at wholesalers advancing 1.7% instead of the previously reported 1.4%. Economists polled by Reuters had expected inventories would be unrevised.

Wholesale inventories jumped 18.5% in December from the year-earlier period. Inventories are a key part of gross domestic product. Goods imports hit a record high in December.

Eurozone: German exports and imports rose unexpectedly in December, the statistics office said on Wednesday, as order books have remained full despite continued raw material bottlenecks.

“The order books are full, so there is no shortage of commissions,” the economist said, adding export growth should pick up sharply after the easing of supply problems.

At the same time, whether this happens in 2022 will also depend on how things develop in eastern Ukraine because Germany’s export machinery can only function to a limited extent without oil, gas and metals from Russia, Gitzel said.

Seasonally adjusted exports rose 0.9% on the month to 117.0 billion euros ($133.58 billion), compared with a decline of 0.2% predicted by economists.

Imports jumped 4.7% to 110.0 billion euros, compared with an average forecast for a 1.5% decrease.

Important Data: US Core CPI (MoM) (Jan) today at 8:30 this time estimated 0.5%, previously which was 0.6%. US Initial Jobless Claims today at 8:30 this time estimated 230K, previously which was 238K. NEW ZEALAND Electronic Card Retail Sales (MoM) (Jan) today at 16:45 previously which was 0.4%. UK BoE Gov Bailey Speaks today at 15:15. RUSSIA Central Bank reserves (USD) today at 8:00 previously which was 634.1B.

TECHNICAL REPORT

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.35341, TAKE PROFIT AT 1.35632 AND STOP LOSS AT 1.35129

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.14236, TAKE PROFIT AT 1.14594 AND STOP LOSS AT 1.14021

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 156.487, TAKE PROFIT AT 156.825 AND STOP LOSS AT 156.165

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 125.119, TAKE PROFIT AT 125.282 AND STOP LOSS AT 124.961

FTSE 100

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 7581.50 TAKE PROFIT AT 7610.00 AND STOP LOSS AT 7556.60.

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 88.62 TAKE PROFIT AT 89.37 AND STOP LOSS AT 87.33

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1835.58, TAKE PROFIT AT 1842.75 AND STOP AT 1828.64

RIPPLE

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.8561 TAKE PROFIT AT 0.9036 AND STOP AT 0.8376

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