Technical Analysis with Candlestick Charts – 15 April 2022

Technical Analysis with Candlestick Charts – 15 April 2022

Technical Analysis

Moody’s: Russia May be in Default

The Asia Pacific is mostly closed this Friday on account of Good Friday. The Shanghai Composite is down 0.37% at 3,213.78. Overall, the Singapore MSCI is down 0.92% at 318.45. Over in Hong Kong, the Hang Seng Index is closed today. In Japan, the Nikkei 225 is down 0.40% at 27,080.00, while the Topix index is down 0.65% at 1896.50. South Korea’s Kospi & Australia S&P/ASX 200 closed today.

Top News of the Day:

Russia may be in default after it tried to service its dollar bonds in roubles due to Western sanctions over the war in Ukraine, Moody’s (NYSE:MCO) said, Moscow’s first major default on foreign bonds since the years following the 1917 Bolshevik revolution.

Market Summary as per 14/04/2022:

European equities Thursday closing. The DAX futures contract in Germany traded up 0.62% at 14,163.85, CAC 40 futures up 0.72% at 6589.36 and the UK 100 futures contract in the U.K. up 0.47% at 7,616.37.

In the U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.33% at 34451.24. The S&P 500 down 1.21% at 4392.60 and the Nasdaq 100 down 2.28% at 13893.21, NYSE closes down 0.62% at 16511.51.

Top Market News Today:

In the Forex market, GBPUSD down 0.06% at 1.3056. The USDJPY up 0.53% at 126.661. The USDCHF up 0.11% at 0.9430. EURUSD down 0.22% at 1.0805, EUR/GBP down 0.09% at 0.8270. The USD/CNY down 0.13% at 6.3693 at the time of writing.

In the Commodity market U.S. Gold futures up 0.02% at $1,973.50. Elsewhere, Silver futures down 0.02% at $25.640 per ounce, Platinum up 0.61% at $993.50 per ounce, and Palladium up 2.18% at $2369.50.

Crude Oil up on Friday; Brent crude oil up 2.17% at $111.15 per barrel while U.S. West Texas Intermediate (CLc1) up 0.90% at $104.02.

In the Cryptocurrency Markets, Bitcoin at 39825.00 down 3.15%, Ethereum up 0.44% at 3035.57, Litecoin at 109.99 up 2.35%, at the time of writing.

Top Market Segment to Watch Out Today:

TWITTER: Billionaire entrepreneur Elon Musk took aim at Twitter Inc (NYSE:TWTR) with a $43 billion cash takeover offer on Thursday, with the Tesla (NASDAQ:TSLA) CEO saying the social media company needs to be taken private to grow and become a platform for free speech.

Musk made the bid on Wednesday in a letter to the board of Twitter – the micro-blogging platform that has become a global means of communication for individuals and world leaders – and it was made public in a regulatory filing on Thursday.

Economic News:

US: U.S. consumer sentiment rebounded unexpectedly in early April from a decade low with the strong job market lifting the outlook for wage growth and a fall in gasoline prices from the previous month’s record high helping to cap expectations for a further acceleration in inflation, a survey showed on Thursday.

The University of Michigan’s Consumer Sentiment Index rose to 65.7 on a preliminary basis this month from a final reading of 59.4 in March, which had been the lowest since 2011. That topped expectations for a reading of 59, according to a Reuters poll of economists, and helped snap a skid of three consecutive monthly declines.

The increase came almost entirely from a jump in the expectations index to 64.1 on a preliminary basis from a March final level of 54.3. Assessments of current conditions were little changed.

Eurozone: Russia has asked Brazil for support in the International Monetary Fund, the World Bank and the G20 group of top economies to help it counter crippling sanctions imposed by the West since it invaded Ukraine, according to a letter seen by Reuters.

Russian Finance Minister Anton Siluanov wrote to Economy Minister Paulo Guedes asking for Brazil’s “support to prevent political accusations and discrimination attempts in international financial institutions and multilateral fora.”

“Behind the scenes work is underway in the IMF and World Bank to limit or even expel Russia from the decision-making process,” Siluanov wrote. He did not elaborate on obstacles to Russian participation in those institutions, and his allegations could not be independently verified.

The letter, which made no mention of the war in Ukraine, was dated March 30 and relayed to the Brazilian minister by Russia’s ambassador in Brasilia on Wednesday.

Top Economic Releases Today:

  1. U.S. Industrial Production (MoM) (Mar) today at 9:15 this time estimated 0.4%, previously which was 0.5%. 
  2. U.S. Capacity Utilization Rate (Mar) today at 9:15 this time estimated 77.8%, previously which was 77.6%.
  3. CANADA ADP Nonfarm Employment Change today at 8:30 previously which was 475.0K.
  4. RUSSIA GDP Monthly (YoY) previously which was 6.6%.
  5. FRENCH French HICP (MoM) (Mar) today at 2:45 this time estimated 1.6%, previously which was 0.9%.

TECHNICAL SUMMARY

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.3059, TAKE PROFIT AT 1.3031 AND STOP LOSS AT 1.3091

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.0806, TAKE PROFIT AT 1.0796 AND STOP LOSS AT 1.0819

EURGBP

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 0.8271, TAKE PROFIT AT 0.8263 AND STOP LOSS AT 0.8278

EURJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 136.667, TAKE PROFIT AT 136.877 AND STOP LOSS AT 136.170

DOW JONES

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 34364.00 TAKE PROFIT AT 34170.00 AND STOP LOSS AT 34602.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 105.66 TAKE PROFIT AT 108.40 AND STOP LOSS AT 104.56

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 1973.60, TAKE PROFIT AT 1988.85 AND STOP AT 1961.40

LITECOIN

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 108.279 TAKE PROFIT AT 106.277 AND STOP AT 114.319

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