Technical Analysis with Candlestick Charts – 11 January 2022

Technical Analysis

Technical Analysis with Candlestick Charts – 11 January 2022

Asia Pacific stocks were down on Tuesday morning. The Shanghai composite is down 0.51% at 3,575.04. Overall, the Singapore MSCI up 0.07% at 342.10. Over in Hong Kong, the Hang Seng Index up 0.35% at 23,755.00. In Japan, the Nikkei 225 down 0.98% at 28,170.00, while the Topix index is down 0.35% at 1984.5. South Korea’s Kospi up 0.02% to 2927.44. Australia S&P/ASX 200 down 0.77% at 7390.10.

European equities Monday closing. The DAX futures contract in Germany traded down 1.13% at 15768.27, CAC 40 futures down 1.44% at 7115.78 and the UK 100 futures contract in the U.K. up 0.07% at 7,485.50.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.45% at 36068.88. The S&P 500 down 0.14% at 4670.28 and the Nasdaq 100 up 0.14% at 15614.43, NYSE closes down 0.27% at 17119.55.

In the Forex market, GBPUSD up 0.14% at 1.35945. The USDJPY up 0.03% at 115.213. The USDCHF down 0.13% at 0.92592. EURUSD up 0.14% at 1.13414, EUR/GBP up 0.04% at 0.8343. The USD/CNY down 0.06% at 6.3715 at the time of writing.

In the commodity market U.S. Gold futures up 0.48% at $1,809.26. Elsewhere, Silver futures up 0.82% at $22.637 per ounce, Platinum up 1.17% at $952.50 per ounce, and Palladium up 1.57% at $1938.00.

Crude Oil up on Tuesday; Brent crude oil up 0.32% at $81.26 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.40% at $78.25.

In the Cryptocurrency Markets, Bitcoin at 42109.89 up 0.63%, Ethereum up 0.95% at 3112.63, Litecoin at 128.79 up 1.87%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Moderna Inc. up 9.277% at $233.70, Humana Inc. up 6.061% at $385.18, Intel Corp. up 3.312% to $55.21, Tesla Inc. up 3.034% to $1,058.12, Discovery Inc. down 5.044% to $27.86, Gap Inc. down 4.194% at $17.36.

Economic news:

US: U.S. greenhouse gas emissions rose by 6.2% from 2020 levels last year as the use of coal-fired electricity jumped 17% and drivers returned to the roads after the first year of the coronavirus pandemic, according to a report released on Monday.

The projected emissions increase shows the U.S. is now further off the target set by the Biden administration under the Paris climate agreement to slash emissions 50-52% below 2005 levels by 2030. U.S. greenhouse gas emissions were 17.4% below 2005 levels in 2021, up from 22.2% below 2005 levels in 2020, according to the Rhodium Group, a research organization.

The group analyzed preliminary U.S. emissions data for 2021, a year that was supposed to be marked by recovery after the pandemic-related upheaval of the economy. It found that emissions growth outpaced the rate of economic recovery, using estimates that GDP grew by 5.7% year-on-year.

Driving the emissions growth were the transportation and electric power sectors, whose greenhouse gas emissions rose 10% and 6.6%, respectively in 2021, both rebounding around 2/3 of the drop from 2019 levels.

In the power sector, high natural gas prices led to a 17% rise in coal generation – the first increase since 2014 – which drove up emissions.

Eurozone: British manufacturers are optimistic that business conditions and productivity will improve this year despite most saying they have been hurt by Brexit and rising costs, according to an industry survey published on Monday.

Trade body Make UK and accountants PwC said 73% of manufacturers believed conditions for the sector would improve and 78% foresaw at least a moderate increase in productivity in 2022.

But two thirds of companies said Brexit had hampered their business in the nearly two years since Britain left the EU, while retaining staff and rising input costs linked to inflation also presented a challenge.

“It’s testament to the strength of manufacturers that they have emerged from the turbulence of the last couple of years in such a relatively strong position,” said Stephen Phipson, chief executive of Make UK.

“To build on this we now need to see a government fully committed to supporting the sector,” he said, adding that the government needed a longer-term vision for the economy.

Important Data: US API Weekly Crude Oil Stock today at 16:30 previously which was -6.432M. JAPAN Adjusted Current Account today at 18:50 this time estimated 1.05T, previously which was 1.03T. CHINA CPI (MoM) (Dec) today at 20:30 this time estimated 0.2%, previously which was 0.4%. UK Labour Productivity (Q3) today at 4:30 previously which was 0.1%.

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- BUY AT 1.35827, TAKE PROFIT AT 1.36046 AND STOP LOSS AT 1.35552

EURUSD

TRADE SUGGESTION- BUY AT 1.13311, TAKE PROFIT AT 1.13578 AND STOP LOSS AT 1.13097

EURGBP

TRADE SUGGESTION- SELL AT 0.83428, TAKE PROFIT AT 0.83341 AND STOP LOSS AT 0.83533

EURJPY

TRADE SUGGESTION- BUY AT 130.569, TAKE PROFIT AT 130.805 AND STOP LOSS AT 130.305.

EURO STOXX 50

TRADE SUGGESTION- BUY AT 4257.00 TAKE PROFIT AT 4281.00 AND STOP LOSS AT 4238.00

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 78.20 TAKE PROFIT AT 79.12 AND STOP LOSS AT 77.48

GOLD

TRADE SUGGESTION- BUY AT 1810.12, TAKE PROFIT AT 1814.04 AND STOP AT 1804.44

ETHEREUM

TRADE SUGGESTION- SELL AT 3105.96 TAKE PROFIT AT 3046.96 AND STOP AT 3188.32

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