Technical Analysis with Candlestick Charts – 14 February 2022

Technical Analysis with Candlestick Charts – 14 February 2022

BITCOIN

Asia Pacific stocks were mostly down on Monday morning. The Shanghai Composite is down 1.45% at 3,421.59. Overall, the Singapore MSCI down 0.31% at 354.90. Over in Hong Kong, the Hang Seng Index down 1.23% at 24,556.00. In Japan, the Nikkei 225 down 2.17% at 27,100.00, while the Topix index is down 1.73% at 1932.00. South Korea’s Kospi down 1.57% to 2704.48. Australia S&P/ASX 200 up 0.37% at 7243.90.

European equities Friday closing. The DAX futures contract in Germany traded down 0.42% at 15425.12, CAC 40 futures down 1.27% at 7011.61 and the UK 100 futures contract in the U.K. down 0.15% at 7,661.03.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 1.43% at 34738.07. The S&P 500 down 0.14% at 4417.70 and the Nasdaq 100 down 3.07% at 14253.84, NYSE closes down 1.13% at 16664.99.

In the Forex market, GBPUSD down 0.07% at 1.35386. The USDJPY down 0.06% at 115.354. The USDCHF up 0.09% at 0.92554. EURUSD down 0.02% at 1.13433, EUR/GBP up 0.19% at 0.83782. The USD/CNY up 0.13% at 6.3620 at the time of writing.

In the commodity market U.S. Gold futures down 0.34% at $1,852.08. Elsewhere, Silver futures up 0.12% at $23.572 per ounce, Platinum up 0.53% at $1034.00 per ounce, and Palladium up 1.75% at $2352.00.

Crude Oil up on Monday; Brent crude oil up 0.43% at $95.37 per barrel while U.S. West Texas Intermediate (CLc1) up 0.44% at $92.59.

In the Cryptocurrency Markets, Bitcoin at 42183.88 up 0.25%, Ethereum up 0.06% at 2874.44, Litecoin at 124.59 down 0.84%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Hess Corp. up 4.113% at $96.20, Phillips 66 up 4.181% at $93.20, Kraft Heinz Co. up 1.283% to $34.73, NVIDIA Corp. down 7.261% at $239.49, Qualcomm Inc. down 5.417% to $164.64, Apple Inc. down 2.022% at $168.64.

Economic news:

US: North America’s busiest trade link reopened for traffic late Sunday evening, ending a six-day blockade, Canada Border Services Agency said, after Canadian police cleared the protesters fighting to end COVID-19 restrictions.

Canadian police made several arrests on Sunday and cleared protesters and vehicles that occupied the Ambassador Bridge in Windsor, Ontario, after a court order on Friday.

The blockade had choked the supply chain for Detroit’s carmakers, forcing Ford Motor (NYSE:F) Co, the second-largest U.S. automaker, General Motors Co (NYSE:GM) and Toyota Motor (NYSE:TM) Corp to cut production.

The bridge carries about $360 million a day in two-way cargoes – 25% of the value of all U.S.-Canada goods trade.

A Windsor Police official told reporters that 20 to 30 arrests had been made. Police also seized vehicles within the demonstration area, according to an earlier statement.

Police stepped up their presence on Sunday with more than 50 vehicles, including cruisers, buses, and an armored car, as the number of protesters dropped to around 45 from roughly 100 on Saturday. Windsor Police tweeted “there will be zero tolerance for illegal activity”.

Eurozone: British employers expect to raise staff pay by the most in at least nine years but the 3% wage deals for workers would still be below fast-rising inflation, according to a survey published on Monday.

With the Bank of England fearing a wage-price spiral from Britain’s tight labour market, the Chartered Institute of Personnel and Development (CIPD) suggested companies were not breaking the bank to counter their recruitment problems.

Planned median annual pay settlements in 2022, including private and public employers, rose to 3.0% from 2.0% three months earlier, its highest since the CIPD started using its current methodology in the winter of 2012/13.

The BoE is monitoring the labour market as it considers how much more interest rates need to rise from their all-time, coronavirus-emergency low.

The central bank raised borrowing costs in December and earlier this month, as it forecast that consumer price inflation would peak at about 7.25% in April and average 5.75% over 2022. It forecast earnings for workers would go up by 3.75% this year, leaving households facing their biggest post-inflation income squeeze in 30 years.

Important Data: JAPAN GDP (QoQ) (Q4) today at 18:50 this time estimated 1.4%, previously which was 0.9%. INDIA CPI (YoY) (Jan) today at 7:00 this time estimated 6.00%, previously which was 5.59%. EURO ZONE Industrial Production (MoM) (Dec) today at 5:00 this time estimated 0.5%, previously which was 2.3%. JAPAN Industrial Production (MoM) (Dec) today at 23:30 previously which was -1.0%. EUROZONE ECB President Lagarde Speaks today at 11:15.

Technical Summary

GBPUSD

Candlestick Chart
Technical Analysis

TRADE SUGGESTION- BUY AT 1.35350, TAKE PROFIT AT 1.35560 AND STOP LOSS AT 1.35060

EURUSD

Candlestick Chart
Technical Analysis

TRADE SUGGESTION- SELL AT 1.13467, TAKE PROFIT AT 1.13239 AND STOP LOSS AT 1.13657

EURGBP

Candlestick Chart
Technical Analysis

TRADE SUGGESTION- SELL AT 0.83810, TAKE PROFIT AT 0.83704 AND STOP LOSS AT 0.83949

EURJPY

Candlestick Chart
Technical Analysis

TRADE SUGGESTION- SELL AT 130.793, TAKE PROFIT AT 130.510 AND STOP LOSS AT 131.148

DOW JONES

Candlestick Chart
Technical Analysis

TRADE SUGGESTION- SELL AT 34737.00 TAKE PROFIT AT 34584.00 AND STOP LOSS AT 34906.00.

WTI CRUDE OIL

Candlestick Chart
Technical Analysis

TRADE SUGGESTION- BUY AT 92.14 TAKE PROFIT AT 92.97 AND STOP LOSS AT 91.74

GOLD

Candlestick Chart
Technical Analysis

TRADE SUGGESTION- BUY AT 1852.37, TAKE PROFIT AT 1855.30 AND STOP AT 1848.32

LITECOIN 

Candlestick Chart
Technical Analysis

TRADE SUGGESTION- SELL AT 123.484 TAKE PROFIT AT 115.087 AND STOP AT 133.115

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