TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 13 JANUARY 2022

TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 13 JANUARY 2022

Asia Pacific stocks were mostly down on Thursday morning. The Shanghai composite is down 1.00% at 3,561.48. Overall, the Singapore MSCI down 0.17% at 346.45. Over in Hong Kong, the Hang Seng Index up 0.16% at 24,361.00. In Japan, the Nikkei 225 down 0.87% at 28,490.00, while the Topix index is down 0.77% at 2003.50. South Korea’s Kospi down 0.21% to 2966.21. Australia S&P/ASX 200 up 0.48% at 7474.40.

European equities Wednesday closing. The DAX futures contract in Germany traded up 0.43% at 16010.32, CAC 40 futures up 0.75% at 7237.20 and the UK 100 futures contract in the U.K. up 0.81% at 7,551.73.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.11% at 36290.33. The S&P 500 up 0.28% at 4726.36 and the Nasdaq 100 up 0.38% at 15905.10, NYSE closes up 0.34% at 17353.76.

In the Forex market, GBPUSD up 0.06% at 1.37068. The USDJPY down 0.01% at 114.625. The USDCHF up 0.07% at 0.9147. EURUSD down 0.01% at 1.14408, EUR/GBP down 0.02% at 0.8346. The USD/CNY up 0.06% at 6.3618 at the time of writing.

In the commodity market U.S. Gold futures flat at $1,826.09. Elsewhere, Silver futures up 0.07% at $22.134 per ounce, Platinum down 0.46% at $975.50 per ounce, and Palladium down 0.65% at $1903.00.

Crude Oil mix on Thursday; Brent crude oil down 0.33% at $84.44 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.73% at $80.87.

In the Cryptocurrency Markets, Bitcoin at 43760.34 down 0.39%, Ethereum down 1.00% at 3341.01, Litecoin at 140.11 down 1.01%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Tesla Inc. up 3.929% at $1,106.22, Mosaic Co. up 3.84% at $41.91, Nucor Corp. up 3.501% to $114.72, Biogen Inc. down 6.699% to $225.34, eBay Inc. down 3.176% to $64.32, Goldman Sachs Group Inc. down 3.161% at $390.31.

Economic news:

US: U.S. consumer prices increased solidly in December as rental accommodation and used cars maintained their strong gains, culminating in the largest annual rise in inflation in nearly four decades, which bolstered expectations that the Federal Reserve will start raising interest rates as early as March.

The report from the Labor Department on Wednesday followed on the heels of data last week showing the labor market was at or near maximum employment. Fed Chair Jerome Powell on Tuesday said the U.S. central bank stood ready to do what was needed to keep high inflation from becoming “entrenched,” in testimony during his nomination hearing before the Senate Banking Committee for a second four-year term as head of the bank.

The consumer price index increased 0.5% last month after advancing 0.8% in November. In addition to higher rents, consumers also paid more for food, though the 0.5% increase in food prices was less than in recent months. Gasoline prices fell 0.5% after rising 6.1% in both November and October.

In the 12 months through December, the CPI surged 7.0%. That was the biggest year-on-year increase since June 1982 and followed a 6.8% rise in November.

Eurozone: European Commission President Ursula von der Leyen will make a new push at boosting women’s representation on companies’ boards, trying to unblock legislation for a women’s quota which has been stuck since 2012.

“It’s time to move forward with this file,” von der Leyen, who is the first woman to lead the Brussels-based EU executive, told the Financial Times on Wednesday.

“It’s been sitting on the shelf for 10 years now, but in these 10 years there has been a lot of movement and learning.”

Von der Leyen said there was “overwhelming” evidence that companies with boardroom diversity were more successful and introducing legal requirements accelerated the pace of progress towards more gender-balanced representation.

Nevertheless, gender equality initiatives in the EU have stalled previously, including a 2012 legal proposal calling for listed companies in the bloc to fill at least 40% of their non-executive board seats with women.

Some EU countries refused to adopt that target as law, including Germany and some Nordic and Baltic states.

Important Data: US Initial Jobless Claims today at 8:30 this time estimated 200K, previously which was 207K. US PPI (MoM) (Dec) today at 8:30 this time estimated 0.4%, previously which was 0.8%. AUSTRALIA Home Loans (MoM) today at 19:30 previously which was -4.1%. CHINA Trade Balance (USD) (Dec) today at 22:00 this time estimated 74.50B, previously which was 71.72B.       

TECHNICAL SUMMARY

GBPUSD

TRADE SUGGESTION- BUY AT 1.37081, TAKE PROFIT AT 1.37376 AND STOP LOSS AT 1.36635

EURUSD

TRADE SUGGESTION- BUY AT 1.14372, TAKE PROFIT AT 1.14604 AND STOP LOSS AT 1.14338

USDJPY

TRADE SUGGESTION- SELL AT 114.591, TAKE PROFIT AT 114.354 AND STOP LOSS AT 114.932

USDCHF

TRADE SUGGESTION- SELL AT 0.9142, TAKE PROFIT AT 0.9118 AND STOP LOSS AT 0.9164

NASDAQ 100

TRADE SUGGESTION- SELL AT 15840.36 TAKE PROFIT AT 15738.55 AND STOP LOSS AT 15981.20

WTI CRUDE OIL

TRADE SUGGESTION- BUY AT 81.57 TAKE PROFIT AT 82.24 AND STOP LOSS AT 80.79

GOLD

TRADE SUGGESTION- BUY AT 1825.52, TAKE PROFIT AT 1832.08 AND STOP AT 1820.47

LITECOIN USD

TRADE SUGGESTION- SELL AT 138.155 TAKE PROFIT AT 133.223 AND STOP AT 145.463

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