Technical Analysis with Candlestick Charts – 11 February 2022

Technical Analysis with Candlestick Charts – 11 February 2022

Technical Analysis

Asia Pacific stocks were down on Friday morning. The Shanghai composite is down 0.46% at 3,470.03. Overall, the Singapore MSCI down 1.00% at 354.90. Over in Hong Kong, the Hang Seng Index down 0.84% at 24,782.00. In Japan, the Nikkei 225 down 1.16% at 27,380.00, while the Topix index is down 0.99% at 1946.50. South Korea’s Kospi down 0.87% to 2747.91. Australia S&P/ASX 200 down 0.98% at 7217.30.

European equities Thursday closing. The DAX futures contract in Germany traded up 0.05% at 15490.44, CAC 40 futures down 0.41% at 7101.56 and the UK 100 futures contract in the U.K. up 0.38% at 7,672.41.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.47% at 35241.60. The S&P 500 down 0.74% at 4466.50 and the Nasdaq 100 down 2.33% at 14705.64, NYSE closes down 1.25% at 16855.95.

In the Forex market, GBPUSD down 0.22% at 1.35241. The USDJPY up 0.10% at 116.088. The USDCHF up 0.28% at 0.92789. EURUSD down 0.45% at 1.13767, EUR/GBP down 0.14% at 0.84136. The USD/CNY up 0.16% at 6.3630 at the time of writing.

In the commodity market U.S. Gold futures down 0.24% at $1,822.18. Elsewhere, Silver futures down 1.22% at $22.880 per ounce, Platinum down 0.68% at $1017.00 per ounce, and Palladium down 1.73% at $2214.50.

Crude Oil down on Friday; Brent crude oil down 0.88% at $90.56 per barrel while U.S. West Texas Intermediate (CLc1) down 0.85% at $88.07.

In the Cryptocurrency Markets, Bitcoin at 43187.32 down 0.77%, Ethereum down 0.18% at 3070.61, Litecoin at 132.99 down 1.28%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Walt Disney Co. up 3.349% at $152.16, Micron Tech. Inc. up 3.291% at $91.0 Mosaic Co. up 2.569% to $45.92, Boeing Co. up 1.339% at $218.75, Qualcomm Inc. down 5.371% to $174.07, Adobe Inc. down 5.123% at $495.02.

Economic news:

US: Canada should use federal powers to ease the growing economic disruption caused by the blockage of a vital U.S.-Canada trade route by protesters opposed to coronavirus mandates, U.S. President Joe Biden’s administration said on Thursday.

The closure of the Ambassador Bridge, North America’s busiest international land border crossing and a vital supply route for Detroit’s carmakers, has halted some auto output and left officials scrambling to limit economic damage.

Canadian truckers started their protests as a “Freedom Convoy” occupying Ottawa, the capital, to demonstrate opposition to a vaccinate-or-quarantine mandate for cross-border drivers mirrored by the U.S. government.

They began blocking the Ambassador Bridge on Monday and have since shut two smaller border crossings in Alberta and Manitoba provinces.

As many pandemic-weary Western countries near the two-year mark on coronavirus restrictions, copycat protests have spread to Australia, New Zealand and France, although the wave of infections caused by the highly infectious Omicron variant has begun to subside in some places.

Eurozone: The European Union has earmarked over 150 billion euros ($170 billion) for investments in Africa under a global fund launched to offer an alternative to Chinese money, the European Commission said on Thursday.

The investment would take up half of the EU’s 300-billion-euro Global Gateway scheme, which that was launched in December with the aim of strengthening Europe’s supply chains and fighting climate change in sectors including health, energy and transport.

It comes as many European states seek to reduce illegal migration from Africa, driven in part by poverty and joblessness, and as fossil fuel producers in Africa bristle against the strict carbon reduction goals set by richer nations to reduce global warming.

European Commission President Ursula von der Leyen announced the regional plan at a news conference in Dakar with Senegalese President Macky Sall.

At the launch of the Gateway fund in December, the EU said the money would come in the form of grants, loans or guarantees from EU institutions, governments, EU financial institutions and national development banks.

Important Data: UK GDP (QoQ) (Q4) today at 2:00 this time estimated 1.1%, previously which was 1.1%. UK Manufacturing Production (MoM) (Dec) today at 2:00 this time estimated 0.1%, previously which was 1.1%. Germany CPI (MoM) (Jan) today at 2:00 this time estimated 0.4%, previously which was 0.4%. SWITZERLAND CPI (MoM) (Jan) today at 2:30 this time estimated 0.1%, previously which was -0.1%. RUSSIA Trade Balance (Dec) today at 8:00 this time estimated 23.00B, previously which was 21.06B.

TECHNICAL REPORT

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.35197, TAKE PROFIT AT 1.35432 AND STOP LOSS AT 1.35025

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.13747, TAKE PROFIT AT 1.13954 AND STOP LOSS AT 1.13553

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 116.039, TAKE PROFIT AT 116.319 AND STOP LOSS AT 115.789

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.92817, TAKE PROFIT AT 0.92943 AND STOP LOSS AT 0.92652

S&P 500

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 4471.59 TAKE PROFIT AT 4426.87 AND STOP LOSS AT 4504.39.

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 88.29 TAKE PROFIT AT 89.37 AND STOP LOSS AT 87.44

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1824.11, TAKE PROFIT AT 1831.14 AND STOP AT 1819.66

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 3083.90 TAKE PROFIT AT 2945.36 AND STOP AT 3189.90

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