Technical Analysis with Candlestick Charts – 14 January 2022

Technical Analysis

Technical Analysis with Candlestick Charts – 14 January 2022

Asia Pacific stocks were mostly down on Friday morning. The Shanghai composite is down 0.74% at 3,528.82. Overall, the Singapore MSCI down 0.29% at 345.60. Over in Hong Kong, the Hang Seng Index down 0.76% at 24,277.00. In Japan, the Nikkei 225 down 1.58% at 28,100.00, while the Topix index is down 1.37% at 1978.00. South Korea’s Kospi down 1.36% to 2921.92. Australia S&P/ASX 200 down 1.08% at 7393.90.

European equities Thursday closing. The DAX futures contract in Germany traded up 0.13% at 16031.59, CAC 40 futures down 0.50% at 7201.15 and the UK 100 futures contract in the U.K. up 0.16% at 7,563.86.

In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.49% at 36113.63. The S&P 500 down 1.42% at 4659.02 and the Nasdaq 100 down 2.57% at 15495.62, NYSE closes down 0.55% at 17259.01.

In the Forex market, GBPUSD up 0.23% at 1.37336. The USDJPY down 0.41% at 113.708. The USDCHF down 0.16% at 0.9096. EURUSD up 0.21% at 1.14781, EUR/GBP up 0.03% at 0.8357. The USD/CNY down 0.12% at 6.3518 at the time of writing.

In the commodity market U.S. Gold futures up 0.27% at $1,826.89. Elsewhere, Silver futures up 0.40% at $23.161 per ounce, Platinum up 0.98% at $981.00 per ounce, and Palladium down 0.58% at $1879.00.

Crude Oil up on Friday; Brent crude oil up 0.62% at $84.59 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.47% at $81.55.

In the Cryptocurrency Markets, Bitcoin at 42866.09 up 0.69%, Ethereum up 1.99% at 3306.43, Litecoin at 139.14 up 2.02%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Biogen Inc. up 5.028% at $236.67, Kroger Co. up 4.964% at $49.48, American Airlines Group Inc. up 4.541% to $19.34, Gap Inc. up 3.831% to $18.43, Dexcom Inc. down 7.056% to $455.78, Tesla Inc. down 6.749% at $1,031.56.

Economic news:

US: U.S. producer price inflation slowed in December as the cost of goods fell amid signs that stretched supply chains were starting to ease, hopeful signs that inflation has probably peaked.

The producer price index for final demand increased 0.2% last month after surging 1.0% in November. Wholesale services prices rose 0.5%, accounting for the increase in the PPI. That followed a 0.9% jump in November.

Goods prices fell 0.4% after advancing 1.1% in the prior month. They were held down by decreases in wholesale food and energy prices. Excluding food and energy, goods prices rose 0.5% after increasing 0.8% in November.

In the 12 months through December, the PPI increased 9.7% after accelerating 9.8% in November.

Eurozone: Euro zone companies survived the two years of the COVID-19 pandemic better than expected with fewer insolvencies than feared, euro zone finance ministers are likely to conclude on Monday according to a senior euro zone official.

The official, who asked not to be named, said the better outcome was testament to the effectiveness of the 2.3 trillion euros ($2.64 trillion) of national liquidity support measures taken to keep companies from collapsing under repeated government-imposed pandemic lockdowns and the resilience of the economy.

“There was concern about a wave of insolvencies,” said the official, involved in the preparation of the monthly meeting of euro zone finance ministers.

Among the measures to stave off bankruptcies, governments introduced subsidised part-time work schemes to prevent mass lay-offs and guaranteed loans taken by companies from banks.

But he warned that policymakers in the 19 countries sharing the euro had to keep supporting viable companies because many ended the pandemic with higher debt and because with new waves of infections every few months it was not clear how much longer they might need emergency support.

Important Data: UK GDP (MoM) today at 2:00 previously which was 0.1%. UK Manufacturing Production (MoM) (Nov) today at 2:00 this time estimated 0.2%, previously which was 0.0%. US Retail Sales (MoM) (Dec) today at 8:30 this time estimated -0.1%, previously which was 0.3%. EURO ZONE Trade Balance (Nov) today at 5:00 this time estimated 7.6B, previously which was 3.6B.

TECHNICAL REPORT

GBPUSD

Technical Chart
Technical Analysis

TRADE SUGGESTION- BUY AT 1.37283, TAKE PROFIT AT 1.37608 AND STOP LOSS AT 1.36950

EURUSD

Technical Chart
Technical Analysis

TRADE SUGGESTION- BUY AT 1.14680, TAKE PROFIT AT 1.14755 AND STOP LOSS AT 1.14632 

EURGBP

Technical Chart
Technical Analysis

TRADE SUGGESTION- SELL AT 0.83531, TAKE PROFIT AT 0.83346 AND STOP LOSS AT 0.83697

EURJPY

Technical Chart
Technical Analysis

TRADE SUGGESTION- SELL AT 130.483, TAKE PROFIT AT 130.140 AND STOP LOSS AT 130.867

DAX 40

Technical Chart
Technical Analysis

TRADE SUGGESTION- BUY AT 15927.60 TAKE PROFIT AT 16060.50 AND STOP LOSS AT 15825.50.

WTI CRUDE OIL

Technical Chart
Technical Analysis

TRADE SUGGESTION- BUY AT 81.60 TAKE PROFIT AT 82.63 AND STOP LOSS AT 80.78

GOLD

Technical Chart
Technical Analysis

TRADE SUGGESTION- BUY AT 1827.40, TAKE PROFIT AT 1832.36 AND STOP AT 1822.93

ETHEREUM

Technical Chart
Technical Analysis

TRADE SUGGESTION- SELL AT 3258.59 TAKE PROFIT AT 3164.26 AND STOP AT 3341.09

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