TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 12 JANUARY 2022

TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 12 JANUARY 2022

Asia Pacific stocks were up on Wednesday morning. The Shanghai composite is up 0.80% at 3,595.88. Overall, the Singapore MSCI up 0.74% at 345.45. Over in Hong Kong, the Hang Seng Index up 2.65% at 24,332.00. In Japan, the Nikkei 225 up 2.10% at 28,740.00, while the Topix index is up 1.79% at 2019.00. South Korea’s Kospi up 1.54% to 2972.48. Australia S&P/ASX 200 up 0.66% at 7438.90.

European equities Tuesday closing. The DAX futures contract in Germany traded up 1.10% at 15941.81, CAC 40 futures up 0.95% at 7183.39 and the UK 100 futures contract in the U.K. up 0.62% at 7,491.38.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.51% at 36252.03. The S&P 500 up 0.92% at 4713.08 and the Nasdaq 100 up 1.47% at 15844.12, NYSE closes up 1.02% at 17294.54.

In the Forex market, GBPUSD up 0.03% at 1.36393. The USDJPY up 0.03% at 115.331. The USDCHF up 0.08% at 0.9238. EURUSD up 0.04% at 1.13712, EUR/GBP up 0.04% at 0.8336. The USD/CNY down 0.13% at 6.3649 at the time of writing.

In the commodity market U.S. Gold futures down 0.07% at $1,820.06. Elsewhere, Silver futures up 0.14% at $22.809 per ounce, Platinum down 0.10% at $969.50 per ounce, and Palladium down 0.13% at $1924.00.

Crude Oil down on Wednesday; Brent crude oil down 0.11% at $83.53 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.12% at $81.17.

In the Cryptocurrency Markets, Bitcoin at 42638.64 down 0.23%, Ethereum down 0.28% at 3235.32, Litecoin at 132.13 up 0.68%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

APA Corp (US) up 8.77% at $32.00, Hess Corp. up 5.743% at $90.04, Marathon Oil Corp. up 5.186% to $18.66, Domino’s Pizza Inc. down 3.229% to $486.42, Entergy Corp. down 2.65% to $108.74, Exelon Corp. down 2.112% at $55.62.

Economic news:

US: Federal Reserve Chair Jerome Powell, in a congressional hearing that pointed to his likely confirmation for a second term as head of the U.S. central bank, said on Tuesday the economy should weather the current COVID-19 surge with only “short-lived” impacts and was ready for the start of tighter monetary policy.

Powell was openly endorsed by Republicans and Democrats on the Senate Banking Committee in a session which focused largely on how the Fed planned to address inflation running at multi-decade highs, why the central bank misdiagnosed the surge in price increases, and what stricter monetary policy would mean for job growth.

The Fed chief said the central bank was determined to ensure that high inflation did not become “entrenched,” and that far from diminishing job growth, a turn to higher policy interest rates and a runoff of its asset holdings was necessary to keep the current economic expansion underway.

If prices continue spiking, the Fed could be forced to push through a sharper rise in interest rates this year than the three quarter-percentage-point hikes its policymakers currently anticipate, risking a return to recession.

Eurozone: Britain and Oman have agreed to work more closely together to strengthen economic ties and increase high-value investment in areas such as clean energy and technology, following a meeting between the leaders of both countries last month.

UK companies have a long history of investment in Oman and they accounted for nearly 50% of the foreign investment in the country in recent years, Britain said, citing data from the Omani National Centre for Statistic and Information.

The two countries said a Sovereign Investment Partnership, signed in London on Tuesday by UK Minister for Investment Gerry Grimstone and President of the Oman Investment Authority Abdulsalam Al Murshidi, would drive strategic joint investment.

Britain has close strategic and military ties with countries in the Gulf and it is targeting trade deals in the region following Brexit.

Important Data: US Core CPI (MoM) (Dec) today at 8:30 this time estimated 0.5%, previously which was 0.5%. US Crude Oil Inventories today at 10:30 this time estimated -1.904M, previously which was -2.144M. UK RICS House Price Balance (Dec) today at 19:01 this time estimated 69.0%, previously which was 71.0%. EURO ZONE Industrial Production (MoM) (Nov) today at 5:00 this time estimated 0.5%, previously which was 1.1%.       

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- BUY AT 1.36325, TAKE PROFIT AT 1.36630 AND STOP LOSS AT 1.36011

EURUSD

TRADE SUGGESTION- BUY AT 1.13593, TAKE PROFIT AT 1.13763 AND STOP LOSS AT 1.13430

GBPJPY

TRADE SUGGESTION- BUY AT 157.160, TAKE PROFIT AT 157.725 AND STOP LOSS AT 156.694

CHFJPY

TRADE SUGGESTION- SELL AT 124.827, TAKE PROFIT AT 124.509 AND STOP LOSS AT 125.200

CAC 40

TRADE SUGGESTION- BUY AT 7233.50 TAKE PROFIT AT 7257.20 AND STOP LOSS AT 7213.00

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 80.76 TAKE PROFIT AT 81.69 AND STOP LOSS AT 79.85

GOLD




TRADE SUGGESTION- BUY AT 1817.05, TAKE PROFIT AT 1822.17 AND STOP AT 1813.47

BTC USD

TRADE SUGGESTION- SELL AT 42483.72 TAKE PROFIT AT 41045.46 AND STOP AT 43482.67

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