Technical Analysis with Candlestick Charts – 11 November 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 11 November 2021

Asia Pacific stocks were mostly up on Thursday morning. The Shanghai composite is up 0.95% at 3,525.33. Overall, the Singapore MSCI down 0.09% at 368.95. Over in Hong Kong, the Hang Seng Index down 0.26% at 24,954.00. In Japan, the Nikkei 225 up 0.58% at 29,280.00, while the Topix index is up 0.27% at 2015.0. South Korea’s Kospi down 0.37% to 2919.24. Australia S&P/ASX 200 down 0.57% at 7381.9.

European equities Wednesday closing. The DAX futures contract in Germany traded up 0.17% at 16067.83, CAC 40 futures up 0.03% at 7045.17 and the UK 100 futures contract in the U.K. up 0.91% at 7,340.15.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.66% at 36079.95. The S&P 500 down 0.82% at 4646.70 and the Nasdaq 100 up 0.23% at 16030.8, NYSE closes down 0.55% at 17192.03.

In the Forex market, GBPUSD up 0.12% at 1.34183. The USDJPY up 0.05% at 113.96. The USDCHF up 0.08% at 0.91883. EURUSD up 0.01% at 1.14793, EUR/GBP down 0.06% at 0.85549. The USD/CNY up 0.25% at 6.4042 at the time of writing.

In the commodity market U.S. Gold futures up 0.33% at $1,855.06. Elsewhere, Silver futures up 1.11% to $24.883 per ounce, Platinum up 0.87% at $1075.24 per ounce, and Palladium up 0.30% at $2032.50.

Crude Oil mix on Thursday; Brent crude oil up 0.29% at $82.78 per barrel while U.S. West Texas Intermediate (CLc1) is down 1.67% at $82.07.

In the Cryptocurrency Markets, BTCUSD at 64740.31 down 0.28%, Ethereum up 0.50% at 4657.49, Litecoin at 257.53 down 1.15%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Tesla Inc. up 4.343% at $1,067.95, Mastercard Inc. up 3.856% at $357.94, Pfizer Inc. up 3.636% to $49.02, Hess Corp. down 5.214% to $81.80, Fortinet Inc. down 4.555% to $333.16, DocuSign Inc. down 7.09% at $255.66.

Economic news:

US: U.S. Trade Representative Katherine Tai said on Wednesday the World Trade Organization cannot return to its prior status quo and needs “an infusion of energy, dynamism and vision,” to revamp its rules for a rapidly changing global economy.

Tai told reporters in Washington a return to the prior status quo of the WTO’s dispute settlement system would not work for the United States, as the system needs to help resolve trade disputes rather than stringing them out for decades, she said.

The United States has rendered the WTO’s Appellate Body inoperable by blocking the appointment of new judges. Washington over several administrations has complained that the body has exceeded its authority by making new trade rules in its decisions.

Tai said it was unclear how or whether the Appellate Body would fit into a redesign of the dispute settlement system, but members needed to “be honest” and articulate what they want it to achieve.

Eurozone: House price inflation in Britain picked up last month, propelled by a shortage of sellers that suggested further price rises lie ahead, a closely watched survey showed on Thursday.

The Royal Institution of Chartered Surveyors said a net balance of 70% of its members reported an increase in house prices last month, up from a revised 69% in September.

A Reuters poll of economists had pointed to a reading of 65%.

The October survey showed the first increase in the house price balance since May.

Other surveys have also pointed to continued house price growth since July when a year-long exemption from the stamp duty tax on house purchases was halved in scale in England and Northern Ireland and expired altogether in Wales.

Scotland ended the incentive in April and it expired in its entirety in England and Northern Ireland at the end of September.

RICS Chief Economist Simon Rubinsohn said expectations of higher Bank of England interest rates were a sideshow to the lack of supply of homes coming to the market.

Gradually shifting away from bond purchases would mitigate financial risks and lower the wealth distributional impact of monetary policy, Schnabel argued.

Important Data: UK GDP (YoY) (Q3) today at 2:00 this time estimated 6.8%, previously which was 23.6%. UK Manufacturing Production (MoM) (Sep) at 2:00 this time estimated 0.2%, previously which was 0.5%. JAPAN Tertiary Industry Activity Index (MoM) today at 23:30 previously which was -1.7%. EURO ZONE ECB Forecast today at 5:00.

TECHNICAL SUMMARY

GBPUSD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.34128, TAKE PROFIT AT 1.34076 AND STOP LOSS AT 1.34238

EURUSD Technical Analysis

Technical Analysis

TRADE SUGGESTION- SELL AT 1.14771, TAKE PROFIT AT 1.14754 AND STOP LOSS AT 1.14794

GBPJPY Technical Analysis

Technical Analysis

TRADE SUGGESTION- SELL AT 152.808, TAKE PROFIT AT 152.535 AND STOP LOSS AT 153.097

CHFJPY Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 124.049, TAKE PROFIT AT 124.315 AND STOP LOSS AT 123.838.

DAX 30 Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 16061.5 TAKE PROFIT AT 16087.2 AND STOP LOSS AT 16039.6

WTI CRUDE OIL Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 81.46 TAKE PROFIT AT 80.78 AND STOP LOSS AT 82.19

GOLD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1856.21, TAKE PROFIT AT 1858.58 AND STOP AT 1854.15

BTCUSD Technical Analysis

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 65282.86 TAKE PROFIT AT 66223.62 AND STOP AT 64222.29

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