Technical Analysis with Candlestick Charts – 12 November 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 12 November 2021

Asia Pacific stocks were mostly up on Friday morning. The Shanghai composite is up 0.21% at 3,539.43. Overall, the Singapore MSCI down 0.11% at 369.70. Over in Hong Kong, the Hang Seng Index up 0.27% at 25,270.00. In Japan, the Nikkei 225 up 1.02% at 29,600.00, while the Topix index is up 1.09% at 2038.5. South Korea’s Kospi up 1.50% to 2968.80. Australia S&P/ASX 200 up 0.83% at 7443.0.

European equities Thursday closing. The DAX futures contract in Germany traded up 0.10% at 16083.11, CAC 40 futures up 0.20% at 7059.56 and the UK 100 futures contract in the U.K. up 0.10% at 7,388.50.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.44% at 35921.24. The S&P 500 up 0.06% at 4649.26 and the Nasdaq 100 up 0.01% at 16047.4, NYSE closes up 0.17% at 17220.41.

In the Forex market, GBPUSD up 0.04% at 1.3372. The USDJPY up 0.14% at 114.214. The USDCHF up 0.15% at 0.92215. EURUSD down 0.04% at 1.14452, EUR/GBP flat at 0.85589. The USD/CNY up 0.05% at 6.3931 at the time of writing.

In the commodity market U.S. Gold futures down 0.22% at $1,857.04. Elsewhere, Silver futures down 0.08% to $25.21 per ounce, Platinum up 0.10% at $1084.63 per ounce, and Palladium down 0.56% at $2050.00.

Crude Oil mix on Friday; Brent crude oil down 0.39% at $82.20 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.15% at $82.19.

In the Cryptocurrency Markets, BTCUSD at 64568.45 down 0.40%, Ethereum down 0.09% at 4719.24, Litecoin at 270.26 up 2.97%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Discovery Inc. up 3.335% at $27.27, Electronic Arts. up 3.712% at $144.45, General Motors Co. up 4.302% to $61.82, Walt Disney Co. down 7.074% to $162.11,

Western Union Co. down 2.965% to $18.00, Match Group Inc. down 2.791% at $149.75.

Economic news:

US: The U.S. is raising the alarm with European Union allies that Russia may be weighing a potential invasion of Ukraine as tensions flare between Moscow and the bloc over migrants and energy supplies.

With Washington closely monitoring a build-up of Russian forces near the Ukrainian border, U.S. officials have briefed EU counterparts on their concerns over a possible military operation, according to multiple people familiar with the matter.

The assessments are believed to be based on information the U.S. hasn’t yet shared with European governments, which would have to happen before any decision is made on a collective response, the people said. They’re backed up by publicly-available evidence, according to officials familiar with the administration’s thinking.

Russia says military deployments on its territory are an internal matter and it denies any aggressive intentions, while accusing the U.S. of provocation by sailing warships in the Black Sea close to its territory this week.

Eurozone: Euro zone inflation expectations are at risk of continuing to overshoot the European Central Bank’s 2% target next year, according to a Reuters poll of economists who raised their outlook for consumer prices for a fifth consecutive month.

While inflation rose above 4% last month, more than twice the ECB’s target, the Bank – unlike most other central banks – has pushed back on calls for tighter policy, calling the rise in inflation transitory and arguing it would subside next year.

But pandemic-led supply chain disruptions and rising oil prices challenge those views. Surging house prices are putting further pressure on the ECB, which has undershot its inflation target for nearly a decade, to act.

“The inflation story is getting more difficult to navigate for the ECB,” said Peter Vanden Houte, chief economist at ING.

Important Data: EURO ZONE Industrial Production (MoM) (Sep) today at 5:00 this time estimated -0.5%, previously which was -1.6%. UK JOLTs Job Openings (Sep) at 2:00 this time estimated 10.3M, previously which was 10.439M. US Michigan Consumer Sentiment (Nov) today at 10:00 this time estimated 72.4, previously which was 71.70. INDIA CPI (YoY) (Oct) today at 7:00 this time estimated 4.32%, previously which was 4.35%.

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- SELL AT 1.33783, TAKE PROFIT AT 1.33560 AND STOP LOSS AT 1.33977

EURUSD

TRADE SUGGESTION- SELL AT 1.14462, TAKE PROFIT AT 1.14330 AND STOP LOSS AT 1.14570

USDJPY

TRADE SUGGESTION- BUY AT 114.138, TAKE PROFIT AT 114.261 AND STOP LOSS AT 114.008

USDCHF

TRADE SUGGESTION- BUY AT 0.9213, TAKE PROFIT AT 0.9240 AND STOP LOSS AT 0.9194.

FTSE 100

TRADE SUGGESTION- BUY AT 7365.2 TAKE PROFIT AT 7383.9 AND STOP LOSS AT 7357.3

WTI CRUDE OIL

TRADE SUGGESTION- SELL AT 81.03 TAKE PROFIT AT 80.17 AND STOP LOSS AT 81.78

GOLD

TRADE SUGGESTION- BUY AT 1854.36, TAKE PROFIT AT 1863.38 AND STOP AT 1850.92

LITECOIN USD

TRADE SUGGESTION- BUY AT 274.04 TAKE PROFIT AT 278.60 AND STOP AT 269.55

About Author