Technical Analysis with Candlestick Charts – 15 March 2022

Technical Analysis with Candlestick Charts – 15 March 2022

Technical Analysis

Asia Pacific stocks were mostly down on Tuesday morning. The Shanghai composite is down 3.99% at 3,094.93. Overall, the Singapore MSCI up 0.07% at 304.60. Over in Hong Kong, the Hang Seng Index down 5.29% at 18,544.00. In Japan, the Nikkei 225 up 0.32% at 25,130.00, while the Topix index is up 1.03% at 1807.00. South Korea’s Kospi down 0.91% to 2621.53. Australia S&P/ASX 200 down 0.73% at 7097.40.

European equities Monday closing. The DAX futures contract in Germany traded up 2.21% at 13929.11, CAC 40 futures up 1.75% at 6369.95 and the UK 100 futures contract in the U.K. up 0.53% at 7,193.48.

In U.S. on Wall Street, the Dow Jones Industrial Average closed flat at 32945.25. The S&P 500 down 0.74% at 4173.12 and the Nasdaq 100 down 1.92% at 13046.64, NYSE closes down 0.38% at 15694.35.

In the Forex market, GBPUSD up 0.21% at 1.3028. The USDJPY up 0.13% at 118.341. The USDCHF up 0.22% at 0.9407. EURUSD up 0.29% at 1.0971, EUR/GBP up 0.08% at 0.8420. The USD/CNY up 0.33% at 6.3815 at the time of writing.

In the commodity market U.S. Gold futures down 1.09% at $1,929.08. Elsewhere, Silver futures down 1.20% at $24.729 per ounce, Platinum down 1.11% at $1020.50 per ounce, and Palladium up 1.18% at $2405.50.

Crude Oil down on Tuesday; Brent crude oil down 5.13% at $100.48 per barrel while U.S. West Texas Intermediate (CLc1) down 4.63% at $95.59.

In the Cryptocurrency Markets, Bitcoin at 38788.15 down 2.21%, Ethereum down 1.79% at 2544.51, Litecoin at 104.88 down 0.74%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Moderna Inc. up 8.589% at $150.07, Westrock Co. up 5.566% at $45.71, Dexcom Inc. up 4.364% to $407.29, Omnicom Group Inc. up 4.328% at $79.55, Enphase Energy Inc. down 7.851% to $157.64, Mosaic Co. down 6.169% at $58.10.

Economic news:

US: U.S. consumers upped their outlook for where inflation will be a year from now and in three years’ time, and they expect to spend substantially more on food, gas and rent in the next 12 months, according to a survey released on Monday by the New York Federal Reserve.

Expectations for where inflation will be in one year increased to 6.0% in February from 5.8% in January, returning to the high reached in November for the survey, which was launched in 2013. Expectations for inflation three years out rose to a median of 3.8% from 3.5%, remaining below the levels seen in November and December of last year. The rise in inflation expectations reverses some of the declines seen in January.

U.S. households are coping with the fastest pace of price increases in 40 years and policymakers are watching closely to see if the shock leads to higher inflation expectations, which could fuel further price hikes, or if consumers largely view the surge in prices as temporary. While near-term inflation expectations have soared, consumers’ longer-term expectations have so far been less affected.

The Russian invasion of Ukraine, which has led to higher fuel prices and may lead to increased food costs, adds more uncertainty to the outlook.

Eurozone: Tourists in the European Union more than tripled the nights they spent in short-stay accommodation in December compared with a year earlier, the EU’s statistics office said on Monday, though levels remained well below pre-pandemic norms.

The nights spent in EU short-stay tourist accommodation surged 237% to 102.2 million nights in December compared to a year earlier, Eurostat said, though this remained 27% below the 2019 figure.

Easing coronavirus restrictions and widespread vaccination campaigns helped tourism recover from the early summer, though the emergence of the highly contagious Omicron variant and fresh travel curbs slowed progress over the winter.

Over the entire year, nights spent in tourist lodgings were up 27% from 2020, but remained more than a third under pre-pandemic levels.

The southern coastal nations of Greece, Spain and Croatia led the recovery, all up more than 70%, while Austria, Latvia, and Slovakia saw tourism fall still further from pandemic lows.

Important Data: UK Claimant Count Change (Feb) today at 03:00 this time estimated -28.0K, previously which was -31.9K. US PPI (MoM) (Feb) today at 8:30 this time estimated 0.9%, previously which was 1.0%. CANADA Manufacturing Sales (MoM) (Jan) today at 8:30 this time estimated 1.3%, previously which was 0.7%. JAPAN Adjusted Trade Balance today at 19:50 previously which was -0.93T. NEW ZEALAND Current Account (QoQ) (Q4) today at 17:45 this time estimated -6.21B, previously which was -8.30B.

Technical Summary

GBPUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.3032, TAKE PROFIT AT 1.2998 AND STOP LOSS AT 1.3079

EURUSD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1.0998, TAKE PROFIT AT 1.0972 AND STOP LOSS AT 1.1017

USDJPY

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 117.980, TAKE PROFIT AT 118.167 AND STOP LOSS AT 117.854

USDCHF

Technical Analysis
Technical Analysis

TRADE SUGGESTION- BUY AT 0.9378, TAKE PROFIT AT 0.9394 AND STOP LOSS AT 0.9363

NIKKEI 225

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 25004.00 TAKE PROFIT AT 24967.00 AND STOP LOSS AT 25052.00

WTI CRUDE OIL

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 97.03 TAKE PROFIT AT 94.40 AND STOP LOSS AT 99.88

GOLD

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 1929.42, TAKE PROFIT AT 1921.17 AND STOP AT 1939.39

ETHEREUM

Technical Analysis
Technical Analysis

TRADE SUGGESTION- SELL AT 2513.41 TAKE PROFIT AT 2347.65 AND STOP AT 2637.57

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