Technical Analysis with Candlestick Charts – 14 October 2021

Technical Analysis

Technical Analysis with Candlestick Charts – 14 October 2021

Asian stock markets rose, the dollar eased and longer-dated bonds rallied on Thursday. The Shanghai composite is up 0.07% at 3,564.82. Overall, the Singapore MSCI up 1.02% at 366.40. Over in Hong Kong, the Hang Seng Index flat at 24,968.00. In Japan, the Nikkei 225 up 1.39% at 28,530.00, while the Topix index is up 0.71% at 1986.0. South Korea’s Kospi up 1.50% to 2988.64. Australia S&P/ASX 200 up 0.54% at 7311.7.

European equities Wednesday closing. The DAX futures contract in Germany traded up 0.68% at 15249.38, CAC 40 futures up 0.75% at 6597.39 and the UK 100 futures contract in the U.K. up 0.37% at 7,196.2.

In U.S. on Wall Street, the Dow Jones Industrial Average closed flat at 34377.82. The S&P 500 up 0.30% at 4363.79 and the Nasdaq 100 up 0.63% at 14875.6, NYSE closes at 16513.15 up 0.43%.

In the Forex market, GBPUSD up 0.19% at 1.36821. The USDJPY up 0.25% at 113.531. The USDCHF down 0.25% at 0.9215. EURUSD up 0.05% at 1.15968, EUR/GBP down 0.10% at 0.8475. The USD/CNY up 0.15% at 6.4375 at the time of writing.

In the commodity market U.S. Gold futures up 0.02% at $1,792.89. Elsewhere, Silver futures up 0.31% to $23.146 per ounce, Platinum up 0.51% at $1025.71 per ounce, and Palladium up 0.99% at $2133.00.

Crude Oil mix on Thursday; Brent crude oil up 0.64% at $83.87 per barrel while U.S. West Texas Intermediate (CLc1) is down 0.13% at $79.42.

In the Cryptocurrency Markets, BTCUSD at 57835.74 up 0.75%, Ethereum up 0.66% at 3633.09, Litecoin at 180.18 up 1.43%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

BlackRock Inc. up 3.781% at $867.81, Discovery Inc. up 3.743% at $25.50, Discovery Inc. up 3.62% to $24.62, United Airlines Holdings Inc. down 3.604% to $47.88, American Express Co. down 3.539% to $168.72, Carnival Corp. down 2.795% at $23.65.

Economic news:

US: Federal Reserve Governor Lael Brainard said Wednesday that U.S. financial regulators will seek to improve Native American communities’ access to credit.

“We will continue to focus on and seek feedback on how to best encourage impactful CRA (Community Reinvestment Act) activities in Indian Country, including for building climate resilience where needed,” Brainard said in prepared remarks.

Brainard was to speak to Oklahoma tribal leaders at a “Fed Listens” event, a series of gatherings meant to create opportunities for communities to tell Fed policymakers about how they experience the economy.

Brainard said the pandemic had worsened longstanding economic disparities between white and Native American families, with native households and businesses facing big challenges in obtaining credit among other difficulties.

Eurozone: British house price growth slowed slightly last month as a tax break on property purchases neared expiry, but a fall in the number of homes being put up for sale looks set to keep pushing up prices, an industry survey showed on Thursday.

The Royal Institution of Chartered Surveyors said its house price balance fell to +68 in September from a downwardly revised +72 in August, matching economists’ forecasts in a Reuters poll.

Britain’s housing market, like those in many other big economies, has boomed over the past year as the COVID-19 pandemic led to increased demand for properties with more space.

British house prices got an extra boost from a tax break on property purchases which expired at the start of this month.

Mortgage lender Halifax reported last week that prices in September were 7.4% up on the year, including a hefty 1.7% monthly jump, the largest since 2007.

RICS said its members thought prices rises would slow over the next few months. But there was an unusually broad consensus that prices and rents would rise further over the year to come, as fewer homes and rental properties come on to the market.

Important Data: US PPI (MoM) (Sep) today at 8:30 this time estimated 0.6%, previously which was 0.7%. CANADA Manufacturing Sales (MoM) (Aug) today at 8:30 this time estimated 0.5%, previously which was -1.5%. US Crude Oil Inventories today at 11:00 this time estimated 0.702M, previously which was 2.346M. US Cushing Crude Oil Inventories today at 11:00 previously which was 1.548M.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1.36815, TAKE PROFIT AT 1.37197 AND STOP LOSS AT 1.36518

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.16016, TAKE PROFIT AT 1.15820 AND STOP LOSS AT 1.16111

GBPJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 155.347, TAKE PROFIT AT 155.364 AND STOP LOSS AT 155.308

CHFJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 123.102, TAKE PROFIT AT 123.180 AND STOP LOSS AT 123.070

S&P 500

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 4376.74 TAKE PROFIT AT 4390.20 AND STOP LOSS AT 4363.22

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 81.08 TAKE PROFIT AT 81.56 AND STOP LOSS AT 80.71

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1791.91, TAKE PROFIT AT 1798.66 AND STOP AT 1786.41

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 3623.35 TAKE PROFIT AT 3666.60 AND STOP AT 3559.68

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