Technical Analysis with Candlestick Charts – 13 October 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 13 October 2021

Asia Pacific stocks were mostly mixed on Wednesday morning. The Shanghai composite is up 0.38% at 3,560.05. Overall, the Singapore MSCI up 1.84% at 362.50. Over in Hong Kong, the Hang Seng Index up 0.20% at 24,968.00. In Japan, the Nikkei 225 up 0.18% at 28,140.00, while the Topix index is down 0.10% at 1972.0. South Korea’s Kospi up 0.96% to 2944.41. Australia S&P/ASX 200 down 0.11% at 7272.5.

European equities Tuesday closing. The DAX futures contract in Germany traded down 0.34% at 15146.87, CAC 40 futures down 0.34% at 6548.11 and the UK 100 futures contract in the U.K. down 0.23% at 7,114.3.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.34% at 34378.35. The S&P 500 down 0.24% at 4350.64 and the Nasdaq 100 up 0.20% at 14641.4, NYSE closes at 16441.75 up 0.07%.

In the Forex market, GBPUSD up 0.22% at 1.36148. The USDJPY down 0.11% at 113.482. The USDCHF down 0.08% at 0.9292. EURUSD up 0.18% at 1.15503, EUR/GBP up 0.03% at 0.8484. The USD/CNY flat at 6.4588 at the time of writing.

In the commodity market U.S. Gold futures up 0.13% at $1,761.99. Elsewhere, Silver futures up 0.54% to $22.67 per ounce, Platinum down 0.39% at $1006.55 per ounce, and Palladium up 0.22% at $2053.00.

Crude Oil mix on Wednesday; Brent crude oil down 0.01% at $83.30 per barrel while U.S. West Texas Intermediate (CLc1) is flat at $79.52.

In the Cryptocurrency Markets, BTCUSD at 55232.24 down 1.34%, Ethereum down 1.07% at 3452.67, Litecoin at 169.80 down 1.64%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

ETSY Inc. up 5.338% at $213.14, Ford Motor Co. up 3.645% at $15.64, Generac Holdings Inc. up 2.896% to $421.43, HP Inc. down 4.082% to $26.55, Micron Technology Inc. down 3.612% to $66.72, Intel Corp. down 2.377% at $52.17.

Economic news:

US: The Democratic-controlled U.S. House of Representatives gave final approval on Tuesday to legislation temporarily raising the government’s borrowing limit to $28.9 trillion, pushing off the deadline for debt default only until December.

Democrats, who narrowly control the House, maintained party discipline to pass the hard-fought, $480 billion debt limit increase. The vote was along party lines, with every yes from Democrats and every no from Republicans.

President Joe Biden is expected to sign the measure into law before Oct. 18, when the Treasury Department has estimated it would no longer be able to pay the nation’s debts without congressional action.

House passage warded off concerns that the United States – the world’s largest economy – would go into default for the first time, but the temporary extension set the stage for continued fighting between the parties.

Eurozone: Britain’s economy returned to growth in August after contracting for the first time in six months in July, keeping intact financial market bets that the Bank of England will begin raising interest rates before the end of the year.

Gross domestic product grew by 0.4% in August – a shade under market expectations in a Reuters poll of economists – after it was revised down to show a drop of 0.1% in July when staff absences linked to the Delta variant of COVID-19 peaked.

“The economy picked up in August as bars, restaurants and festivals benefited from the first full month without COVID-19 restrictions in England,” Darren Morgan, director of economic statistics at the Office for National Statistics, said.

Financial markets were little changed after the data.

The BoE looks on course to be the first major central bank to raise interest rates since the start of the pandemic. Financial markets are betting on a rise to 0.25% by December, up from its current all-time low of 0.1%.

Important Data: US Core CPI (MoM) (Sep) today at 8:30 this time estimated 0.2%, previously which was 0.1%. UK RICS House Price Balance (Sep) today at 19:01 this time estimated 68%, previously which was 73%. AUSTRALIA Employment Change (Sep) today at 20:30 this time estimated -137.5K, previously which was

-146.3K. CHINA CPI (MoM) (Sep) today at 21:30 this time estimated 0.3%, previously which was 0.1%.

TECHNICAL SUMMARY

GBPUSD

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 1.3599, TAKE PROFIT AT 1.3576 AND STOP LOSS AT 1.3634

EURUSD

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 1.15452, TAKE PROFIT AT 1.15212 AND STOP LOSS AT 1.15674

EURGBP

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 0.8483, TAKE PROFIT AT 0.8476 AND STOP LOSS AT 0.8500

EURJPY

Technical analysis
Technical analysis

TRADE SUGGESTION- BUY AT 131.153, TAKE PROFIT AT 131.360 AND STOP LOSS AT 130.869

NIKKEI 225

Technical analysis
Technical analysis

TRADE SUGGESTION- SELL AT 28154.00 TAKE PROFIT AT 27962.00 AND STOP LOSS AT 28319.00

WTI CRUDE OIL

Technical analysis
Technical analysis

TRADE SUGGESTION- BUY AT 80.50 TAKE PROFIT AT 80.99 AND STOP LOSS AT 80.25

GOLD

Technical analysis
Technical analysis

TRADE SUGGESTION- BUY AT 1764.86, TAKE PROFIT AT 1773.87 AND STOP AT 1750.24

BTC USD

Technical analysis
Technical analysis

TRADE SUGGESTION- BUY AT 54798.00 TAKE PROFIT AT 57646.22 AND STOP AT 54059.17

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